St. Joseph, MO Fri Dec 12, 2014 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids closed higher this week on
continued commercial buying and strong export sales for soybeans. Export sales
for soybeans remains positive with increased Chinese demand. Corn has had good
commercial buying interest trying to interest farmers into selling, as many are
holding on to their crop for now. Crude oil fell to a 5 year low falling below
60.00 a barrel, which could make it hard for corn to keep a rally going. USDA
released its Supply and Demand report on Wednesday keeping pretty much
unchanged. Ending corn stocks came in just below 2 billion bushels (1.998 bb)
which fell in range of expectations. Soybean stocks came in at 410 million
bushels which was at the low end of expectations. Wheat had domestic ending
stocks at 654 million bushels, up 10 mb from last month’s report. Corn had
weekly export sales totaling 37.9 mb for 2014-2015 marketing year. Soybeans had
bullish export sales of 29.8 mb for 2014-2015 marketing year. Wheat had export
sales totaling 19.3 mb. Wheat for the week closed 8-23 cents higher. Corn
traded 3-18 cents higher with grain sorghum closed 21-25 cents higher. Soybeans
closed 28-36 cents higher.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 8
to 13 cents lower from 7.32 1/2-7.47 1/2 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 7-8 cents higher from 5.96-6.12 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 3
1/4 to 23 1/4 cents lower from 7.70 1/4-8.15 1/4 per bushel. Portland US Soft
White wheat rail was steady to 2 3/4 cents higher from 6.85-7.37 1/2 per bushel.
CORN: Kansas City US No 2 rail White Corn was 10 to 12 cents higher from
3.82-3.91 per bushel. Kansas City US No 2 truck Yellow Corn was 14 3/4 to 18
3/4 cents higher at 3.76 1/2. Omaha US No 2 truck Yellow Corn was 13 cents
higher from 3.77-3.79 per bushel. Chicago US No 2 Yellow Corn was 10 3/4 cents
higher from 3.65 1/2-3.90 1/2 per bushel. Toledo US No 2 rail Yellow corn was 2
3/4 cents higher from 3.68 1/2-3.80 1/2 per bushel. Minneapolis US No 2 Yellow
corn rail was 8 3/4 cents higher at 3.58 1/2 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1/2 cent lower from 3.26 1/2-3.61 1/2 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was steady at
7.35 per bushel. Portland US 2 Barley, unit trains and Barges-export was not
SORGHUM: US No 2 yellow truck, Kansas City was 21 cents higher at 7.29 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 23-25 cents higher from 6.70-7.55 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were 32 3/4 cents higher at 9.97
1/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 28 3/4
to 31 3/4 cents higher from 10.44 1/4-10.57 1/4 per bushel. Kansas City US No 2
Yellow truck soybeans were 36 3/4 cents higher at 10.37 1/4 per bushel.
Illinois 48 percent Soybean meal, processor rail bid was 9.80 to 15.80 higher
from 441.50-450.50 per ton. Central Illinois Crude Soybean oil processor bid
was 52 to 92 points higher from 32.02-33.62 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Baldemar Ortiz/Greg Harrison, Market Reporter (816)676-7000
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