Weekly National Grain Market Review
10/23/2009 08:16AM
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SJ_GR851
St. Joseph, MO Fri Oct 23, 2009 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids were higher. The grain markets
opened the week on a good start as the lower dollar and higher equities
triggered the rally. Rain moved across the corn-belt and winter wheat region
later in the week lending additional support which delayed plantings for wheat
and harvest for corn and soybeans. If this continues, it could mean lost
acreage for wheat as it is getting late in the season. The progress report
listed corn harvest at 17 percent and soybeans at 30 percent with crop ratings
at 70 and 65 percent good to excellent respectively. Weekly export sales for
wheat were above the high end of the trade expectations coming in at 627,600
tonnes for the current marketing year and 57,500 for the next marketing year for
a total of 685,100. Hard red winter wheat sales consisted of 300,600 tonnes for
2009-2010 and soft red at 77,900 tonnes. Weekly export sales for corn were
disappointing coming in at 234,900 tonnes for the current marketing year and
14,600 for the next marketing year for a total of 249,500. Weekly export sales
for soybeans were supportive coming in at 987,300 tonnes.
Wheat was mostly 30-49 cents higher. Yellow Corn was 23-33 cents higher.
Sorghum was 40-55 cents higher. Soybeans were mostly 12-23 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 30
to 35 cents higher from 5.33-5.81 per bushel. Kansas City US No 2 Soft Red
Winter rail bid was 35 cents higher from 5.03-5.53 per bushel. St. Louis truck
US No 2 Soft Red Winter terminal bid was 37 cents higher at 3.57 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 44 to 49 cents higher from 6.30 1/4-6.45 1/4 per bushel.
Portland US Soft White wheat rail was 23 to 26 cents higher from 4.93-5.05 per
bushel.
CORN: Kansas City US No 2 rail White Corn was 7 to 18 cents higher from
3.91-4.10 per bushel. Kansas City US No 2 truck Yellow Corn was 31 to 33 cents
higher from 3.79-3.84 per bushel. Omaha US No 2 truck Yellow Corn was 31 to 32
cents higher from 3.80-3.89 per bushel. Chicago US No 2 Yellow Corn was 28 1/2
to 30 1/2 cents higher from 3.73 1/2-4.11 1/2 per bushel. Toledo US No 2 rail
Yellow corn was 30 1/2 cents higher from 3.81 1/2-4.03 1/2 per bushel.
Minneapolis US No 2 Yellow Corn rail was 23 1/2 cents higher at 3.65 1/2 per
bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 14 1/4 cents higher at 2.49 1/4 per bushel. US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was not available
per bushel. Portland US 2 Barley, unit trains and Barges-export was not
available per cwt.
SORGHUM: US No 2 yellow truck, Kansas City was 55 cents higher at 6.05 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 40 to 49 cents higher from 5.99-6.13 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans, were 19 1/2 cents higher at 9.90
1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 2 1/2 to
12 1/2 cents higher from 10.00 1/2-10.25 1/2 per bushel. Kansas City US No 2
Yellow truck soybeans were 23 cents higher at 10.06 per bushel. Central
Illinois 48 percent Soybean meal, processor rail bid was 2.60 higher to 15.40
lower from 316.80-325.80 per ton. Central Illinois crude Soybean oil processor
bid was 102 to 152 points higher from 34.70-35.88 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Baldemar Ortiz, Market Reporter (816)238-0678
www.ams.usda.gov/mnreports/SJ_GR851.txt
For more Grain Market News:
www.ams.usda.gov/lsg/mncs/ls_grain.htm
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