St. Joseph, MO Fri Feb 15, 2013 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grains for the week all had solid losses. Corn could not end its losing streak closing lower for ten consecutive trading days, closing fractionally lower on Thursday. Weak export demand continues to plague corn. Expectations for large crops in South America are also weighing in on prices for corn and soybeans. Improved weather conditions for South America’s soybean and corn crops are pressuring the market, also export sales could be shifting back to South America. Wheat prices also fell on improving moisture conditions in parts of the Southwest and a higher U.S. dollar index. Weekly export sales for corn were again bearish totaling 225,400 mt (8.9 mb) for current marketing year. Soybeans had exports sales below expectations with 109,200 mt for current marketing year and 345,000 mt for next marketing year. Wheat had export sales of 651,700 mt (24.3 mb) for current marketing year. Wheat was mostly 23-26 cents lower, with Portland 3-4 cents higher. Yellow Corn was 11-21 cents lower with white corn 49-54 cents lower. Sorghum was 21-29 cents lower. Soybeans were 68-69 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 23 to 26 cents lower from 8.45-8.94 per bushel. Kansas City US No 2 Soft Red winter rail bid no quote per bushel. St. Louis truck US No 2 Soft Red Winter terminal bid was 24 cents lower at 7.72 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, no quote per bushel. Portland US Soft White wheat rail was 3 to 4 cents higher from 8.50-8.75 per bushel.
CORN: Kansas City US No 2 rail White Corn was 49 to 54 cents lower from 7.32-7.46 per bushel. Kansas City US No 2 truck Yellow Corn was 16to 21 cents lower from 7.30-7.35 per bushel. Omaha US No 2 truck Yellow Corn was 16 to 19 cents lower from 7.15-7.23 per bushel. Chicago US No 2 Yellow Corn was 11 to 16 cents lower from 7.08 3/4-7.19 3/4 per bushel. Toledo US No 2 rail Yellow corn was 16 to 22 1/4 cents lower from 7.10 3/4-7.13 3/4 per bushel. Minneapolis US No 2 Yellow corn rail was 15 cents lower at 6.83 3/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 1 1/2 cents lower from 4.05-4.12 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents lower at 7.00 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 29 cents lower at 12.41 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 21 to 28 cents lower from 12.00-12.39 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans no bid per bushel. Illinois Processors US No 1 Yellow truck soybeans were 68 3/4 cents lower from 14.44-14.58 per bushel. Kansas City US No 2 Yellow truck soybeans were 69 cents lower at 14.53 per bushel. Central Illinois 48 percent Soybean meal, processor rail bid was 31.40 lower from 421.20-424.20 per ton. Central Illinois Crude Soybean oil processor bid was 15 points lower from 49.20-49.95 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Greg Harrison-Baldemar Ortiz, Market Reporter (816)238-0678
For more Grain Market News:
Weekly National Grain Market Review