USDA National Grain Review

ST. JOSEPH - Mar 29/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Mar 29.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain prices tumbled as USDA Reports came out on
Thursday and showed more corn available than expected and farmer’s intentions to
plant plenty of it this spring.  Corn stocks came in at 5.4 bb which was well
above trade estimates of 5.013 bb.  Corn disappearance was much lighter than
year ago levels, mostly due to corn exports being much lighter.  Corn acreage
matched trade guesses at 97.28 million acres which would represent the highest
number of corn acres planted since 1936.  Soybean stocks totaled 999.28 mb
compared to 935 mb, down 27 percent from last March.  Soybean acres were lower
than estimated at 77.12 million acres which was below the average guess of 78.39
million acres.  Wheat came in on the high end of estimates at 1.23 bb with
estimates of 1.17 bb and with all wheat acres estimated at 56.4 million acres in
line with estimates.  Corn had weekly exports of 295,100 mt (11.6 mb) for
current marketing year and 118,900 mt for next year for a total of 314,000 mt
(12.4 mb).  Soybeans had bullish export sales totaling 674,100 mt (24.8 mb),
with 66,400 mt (2.4 mb) for current marketing year and 607,700 mt (22.4 mb) for
next marketing year.  Wheat had weekly export sales of 580,300 mt (21.3 mb) for
current marketing year and 248,300 mt (9.1 mb) for next year for a total of
828,600 mt (30.4 mb).  Wheat closed mostly 17-33 cents lower for the week.  Corn
traded 37-50 cents lower and grain sorghum 46-68 cents lower for the week.
Soybeans closed 44-47 cents lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 28
3/4-33 3/4 cents lower from 7.86 3/4-8.46 3/4 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 62 cents lower at 6.97 per bushel.  Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 12
1/2 to 17 1/2 cents lower at 9.05 1/4 per bushel.  Portland US Soft White wheat
rail was not quoted.
   CORN:  Kansas City US No 2 rail White Corn was 12-14 cents higher from 7.67-
7.75 per bushel.  Kansas City US No 2 truck Yellow Corn was 38 cents lower at
7.43 per bushel.  Omaha US No 2 truck Yellow Corn was 42-46 cents lower from
7.21-7.23 per bushel.  Chicago US No 2 Yellow Corn was 42 3/4 to 50 3/4 cents
lower from 7.04 1/4-7.18 1/4 per bushel.  Toledo US No 2 rail Yellow corn was 40
3/4-41 3/4 cents lower from 7.08 1/4-7.13 1/4 per bushel.  Minneapolis US No 2
Yellow corn rail was 37 3/4 cents lower at 6.79 1/4 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 1/4 cents higher at 4.26 1/4 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis no quote per
bushel.  Portland US 2 Barley, unit trains and Barges-export was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 68 cents lower at 12.23 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 46 to 67 cents lower from 12.36-12.42 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 44 1/4 cents lower at 13.99
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 44 1/4
cents lower from 14.29 3/4-14.54 3/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 47 cents lower at 14.52 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 18.30-25.30 lower from 413.60-
414.60 per ton.  Central Illinois Crude Soybean oil processor bid was 31 to 81
points lower from 48.61-49.11 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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