Weekly National Grain Market Review
St. Joseph, MO Fri Jun 21, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids were mostly higher. Grains on
Wednesday had sharp gains as expectations are for USDA to reduce corn acres in
their acreage report on June 28th. Grain traders seem unsure how many acres of
corn farmers have failed to plant this spring, the acreage report will give a
better idea with early estimates are expecting 2-3 million acres less, but
surprises are possible. Soybeans got a boost on Wednesday as more rain was
predicted for Iowa, Minnesota and Wisconsin which already had planting delays
with 85 percent of the soybean acres completed. Soybeans have tight near term
supply that continues to give a boost to basis levels as demand for end users
such as soybean processors push for supplies. On Thursday grains and most other
commodities suffered sharp losses with the biggest distraction coming from the
Federal Reserve statements on Wednesday stating that the Fed may slow down in
its bond purchases. The Stock Market closed with a 350 point drop its second
day in a row of sharp losses, crude oil had sharp losses as did precious metals.
Wheat followed grains lower on Thursday as it succumbed to pressure from major
sell-offs, also wheat is faced with seasonal harvest pressure. Corn had weekly
export sales on the sluggish side totaling 210,500 mt (8.3 mb) with 133,400 mt
(5.3 mb) for current marketing year 2012-2013. Soybeans had weak export sales
totaling 161,100 mt (5.9 mb) with only 52,600 mt (1.9 mb) for 2012-2013 season.
Wheat had weekly export sales totaling 432,700 mt (15.9 mb). Wheat closed
mostly 10-28 cents higher. Corn traded mostly 22-32 cents higher while sorghum
closed 31-70 cents higher. Soybeans closed mostly 5-29 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 27
1/2 to 28 1/2 cents higher from 8.22-8.83 per bushel. Kansas City US No 2 Soft
Red winter rail bid was not quoted. St. Louis truck US No 2 Soft Red Winter
terminal bid was 10 cents higher at 7.15 per bushel. Minneapolis and Duluth US
No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 4 cents higher
to 11 cents lower from 9.09-9.14 per bushel. Portland US Soft White wheat rail
was not available per bushel.
CORN: Kansas City US No 2 rail White Corn was 3-4 cents higher from 7.12-
7.28 per bushel. Kansas City US No 2 truck Yellow Corn was 29 to 30 cents
higher from 7.41-7.47 per bushel. Omaha US No 2 truck Yellow Corn was 19 to 25
cents higher from 7.30-7.36 per bushel. Chicago US No 2 Yellow Corn was 29 3/4
cents higher from 6.98 1/4-7.33 1/4 per bushel. Toledo US No 2 rail Yellow corn
was 32 3/4 cents higher from 7.14 1/4-7.15 1/4 per bushel. Minneapolis US No 2
Yellow corn rail was 22 3/4 cents lower at 7.03 1/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 13 1/2 cents lower from 4.14 3/4-4.24 3/4 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 10 cents
higher at 7.00 per bushel. Portland US 2 Barley, unit trains and Barges-export
was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 70 cents higher at 12.20 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 31 to 53 cents higher from 12.01-12.17 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 15 3/4 cents lower at 14.99
1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 5 1/4
cents higher to 2 3/4 cents lower from 15.47 1/2-15.67 1/2 per bushel. Kansas
City US No 2 Yellow truck soybeans were 29 cents higher at 15.46 per bushel.
Central Illinois 48 percent Soybean meal, processor rail bid was 5.00 to 7.00
lower from 481.60-490.60 per ton. Central Illinois Crude Soybean oil processor
bid was 65 to 106 points higher from 47.15-49.40 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Greg Harrison, Market Reporter (816)238-0678
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