St. Joseph, MO Fri Apr 06, 2012 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids traded moderate to sharply
higher after momentum from last week’s bullish USDA report carried over into
this holiday week. However, some pressure was felt as the dollar surged higher,
crude oil was lower along with precious metals and the stock market. Despite
the pressure, corn managed to rally as the positive factors out-numbered the
negative news. Corn saw support from firm basis on lack of producer selling and
good weekly export sales. Soybeans got a boost from talk of smaller South
American crop and good weekly export sales. The good export news also helped
wheat close in positive territory. However, rain in the hard red winter wheat
region was also noted limiting gains as crop conditions improved. Wheat weekly
export sales came in at 408,300 tonnes of old crop and 103,400 tonnes of new
crop. Corn export sales came in at 937,600 tonnes for the current marketing
year and 185,100 for the next a total of 1,122,700 tonnes. Soybeans listed
sales of 406,900 tonnes for the current marketing year and 706,000 tonnes for
the next for a total of 1,112,900 tonnes. Meal sales came in at 174,000 tonnes
for the current marketing year and 700 for the next for a total of 174,700
tonnes. The grain markets will be closed Friday in observance of the holiday.
Wheat was mostly 8-27 cents higher. Yellow Corn was 51-59 cents higher.
Sorghum was 83 cents to 1.09 higher. Soybeans were 78-80 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 8
cents higher from 6.97-7.62 per bushel. Kansas City US No 2 Soft Red Winter
rail bid was 8 cents higher from 6.29-7.09 per bushel. St. Louis truck US No 2
Soft Red Winter terminal bid was 26 cents higher at 6.58 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 27 1/4 to 47 1/4 cents higher from 9.86-10.26 per bushel.
Portland US Soft White wheat rail was 10 to 20 cents higher from 6.90-7.00 per
CORN: Kansas City US No 2 rail White Corn was 1 to 5 cents higher from 7.27-
7.37 per bushel. Kansas City US No 2 truck Yellow Corn was 56 cents higher at
6.82 per bushel. Omaha US No 2 truck Yellow Corn was 54 to 56 cents higher from
6.66-6.68 per bushel. Chicago US No 2 Yellow Corn was 51 1/4 to 54 1/4 cents
higher from 6.38 1/4-6.78 1/4 per bushel. Toledo US No 2 rail Yellow corn was
57 1/4 to 59 1/4 cents higher from 6.66 1/4-6.70 1/4 per bushel. Minneapolis US
No 2 Yellow corn rail has no comparison at 6.34 1/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 3 1/2 to 13 1/2 cents lower from 3.47-3.67 per bushel. US No 3 or
better rail malting Barley, 70 percent or better plump out of Minneapolis was
steady at 7.05 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 83 to 92 cents higher from
11.04-11.13 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or
bid to the farmer, fob elevator) was 95 cents to 1.09 higher from 11.34-11.83
OILSEEDS: Minneapolis Yellow truck soybeans were 80 1/2 cents higher at
14.06 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 78 1/2
cents higher from 14.34-14.44 per bushel. Kansas City US No 2 Yellow truck
soybeans were 80 cents higher at 14.38 per bushel. Central Illinois 48 percent
Soybean meal, processor rail bid was 16.90 higher from 379.90-391.90 per ton.
Central Illinois Crude Soybean oil processor bid was 275 to 305 points higher
from 55.14-56.14 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
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