St. Joseph, MO Fri Jun 28, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids traded mixed. The Stock Market posted triple-digit gains and precious metals most notably gold having sharp losses lending support to grains. Soybeans saw additional gains from firm cash basis and planting delays in parts of the upper Midwest and western corn-belt. Wheat saw losses on harvest pressure and better than expected yields. Corn saw modest declines from good growing conditions. U.S. corn crop improved, up 1 percent to 65 percent rated good to excellent. Weekly export sales for corn totaled 409,300 tonnes with 336,700 tonnes for current marketing year 2012-2013. Soybeans had weekly export sales totaling 465,600 tonnes with only 14,500 tonnes for 2012-2013. Weekly export sales for wheat were bullish totaling 731,800 tonnes. Wheat was 45 cents lower to 9 cents higher. Yellow Corn was mostly 12-26 cents lower. Sorghum was 4-11 cents lower. Soybeans were 33-60 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 44 to 45 cents lower from 7.77-8.39 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 42 cents lower at 6.73 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 4 to 9 cents higher from 9.13-9.23 per bushel. Portland US Soft White wheat rail was not available per bushel.
CORN: Kansas City US No 2 rail White Corn was 2 to 9 cents higher from 7.21-
7.30 per bushel. Kansas City US No 2 truck Yellow Corn was 6 to 12 cents lower at 7.35 per bushel. Omaha US No 2 truck Yellow Corn was 13 to 26 cents lower from 7.04-7.23 per bushel. Chicago US No 2 Yellow Corn was 16 cents lower from 6.82 1/4-7.17 1/4 per bushel. Toledo US No 2 rail Yellow corn was 18 to 21 cents lower from 6.93 1/4-6.67 1/4 per bushel. Minneapolis US No 2 Yellow corn rail was 17 cents lower at 6.86 1/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 9 1/4 cents lower from 4.05 1/2-4.15 1/2 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was steady 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 11 cents lower at 12.09 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 4 to 7 cents lower from 11.94-12.13 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 60 cents higher at 15.59 1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 33 to 50 cents higher from 15.97 1/2-16.00 1/2 per bushel. Kansas City US No 2 Yellow truck soybeans were 49 cents higher at 15.95 per bushel. Central Illinois 48 percent Soybean meal, processor rail bid was 31.00 to 34.00 higher from 512.60-524.60 per ton. Central Illinois Crude Soybean oil processor bid was 175 to 225 points lower from 45.40-47.15 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Baldemar Ortiz, Market Reporter (816)238-0678
For more Grain Market News:
Weekly National Grain Market Review