USDA National Grain Review

ST. JOSEPH - Apr 12/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Apr 12.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grains traded higher after last week’s sell-off.
Winter storm across the Northern Plains and parts of the Southern Plains had
temperatures falling below freezing in wheat country which could leave some
wheat vulnerable to the cold and had wheat trading higher for the week.  Corn
rebounded some this week as corn planting is off to a slow start when compared
to last year, but still plenty early.  There was another round of USDA Supply
and Demand Reports out on Wednesday as corn had lower than expected US ending
stocks at 757 mb with pre-report average estimates of 824 mb.  Corn also had
higher than expected world ending stocks.  Soybeans had ending stocks mostly
left unchanged from March at 125 mb as supplies remain tight.  Wheat had US
ending stocks at 731 mb a 15 mb increase from March.  Global ending stocks for
wheat increased to 182.3 mmt up from 178.2 mmt in March. Weekly export sales for
corn totaled 476,000 mt (18.7 mb) with 185,200 mt (7.3 mb) for 2012-2013.
Weekly export sales for soybeans totaled 383,700 mt (14.1 mb) with 319,200 mt
(11.7 mb) for 2012-2013.  Weekly export sales for wheat totaled 339,500 mt (12.5
mb) with 263,500 mt (9.7 mb) for 2012-2013.  Wheat closed mostly 7-23 cents
higher.  Corn traded 16-24 cents higher and grain sorghum for the week closed
37-38 cents higher.  Soybeans closed 30-40 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 17
cents higher from 8.03 3/4-8.53 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 7 cents higher at 7.11 per bushel.  Minneapolis and Duluth US No 1 Dark
Northern Spring, 14.0 to 14.5 percent protein rail, was 3 to 23 cents higher
from 8.79 1/2-8.99 1/2 per bushel.  Portland US Soft White wheat rail was 2 1/4
to 15 cents lower from 7.92 3/4-7.95 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 12 to 19 cents lower from
6.77-7.00 per bushel.  Kansas City US No 2 truck Yellow Corn was 16 to 21 cents
higher from 6.94-6.99 per bushel.  Omaha US No 2 truck Yellow Corn was 21 to 24
cents higher from 6.78-6.84 per bushel.  Chicago US No 2 Yellow Corn was 19 1/4
to 21 1/4 cents higher from 6.46 1/4-6.72 1/4 per bushel.  Toledo US No 2 rail
Yellow corn was 19 1/4 cents higher from 6.61 1/4-6.66 1/4 per bushel.
Minneapolis US No 2 Yellow corn rail was 23 1/4 cents higher at 6.45 1/4 per
bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 14 3/4 cents higher at 4.03 3/4-4.08 3/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was steady at
6.25 per bushel.  Portland US 2 Barley, unit trains and Barges-export was not
available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 38 cents higher at 11.45 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 37-38 cents higher from 11.57-11.63 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 37 cents higher at 14.03
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 34 to 40
cents higher from 14.54-14.67 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 30 cents higher at 14.49 per bushel.  Central Illinois 48 percent
Soybean meal, processor rail bid was 1.90 to 6.90 higher from 407.00-416.00 per
ton.  Central Illinois Crude Soybean oil processor bid was 122 to 172 points
higher from 49.02-50.77 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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