USDA National Grain Review

ST. JOSEPH - May 3/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 3.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids closed higher after a roller
coaster week.  Heavy snow and rain fell on Thursday across parts of the western
and northern corn-belt supporting higher grain prices along with most commodity
markets closing higher.  However, the forecast is much improved next week with
temperatures in the 60’s and 70’s.  The stock market had sharp gains along with
precious metals and crude oil.  With excessive wet conditions through much of
the corn-belt in Iowa, Missouri, Illinois, and Michigan concerns linger.  Corn
planting showed only 5 percent of the crop planted early in the week as compared
to the 5 year average of 31 percent.  Wheat saw USDA lower good to excellent
ratings in Kansas to 27 percent, 23 percent in Oklahoma and 7 percent in Texas
as dry conditions in the southern plains along with freezing temperatures has
eroded conditions.  Corn had weekly export sales totaling 985,300 tonnes with
329,300 tonnes for 2012-2013.  Soybeans had bullish weekly export sales totaling
1,231,300 tonnes with a reduction of 109,000 tonnes for 2012-2013.  Wheat had
bearish export sales of 716,500 tonnes with 219,200 tonnes for 2012-2013.  Wheat
was 12-37 cents higher.  Yellow Corn was 26-47 cents higher.  Sorghum was 48-89
cents higher.  Soybeans were steady to 20 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 26
to 33 cents higher from 8.61 3/4-9.00 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 16 cents higher at 7.42 per bushel.  Minneapolis and Duluth US
No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 12 to 37 cents
higher from 9.35 1/4-9.60 1/4 per bushel.  Portland US Soft White wheat rail was
from 7.75-7.75 1/2 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 16 to 20 cents higher from
7.00-7.13 per bushel.  Kansas City US No 2 truck Yellow Corn was 37 to 40 higher
from 7.20-7.22 per bushel.  Omaha US No 2 truck Yellow Corn was 39 to 41 cents
higher at 7.17 per bushel.  Chicago US No 2 Yellow Corn was 26 3/4 to 47 1/2
cents higher from 6.67-7.15 per bushel.  Toledo US No 2 rail Yellow corn was 38
3/4 to 40 3/4 cents higher from 6.92-6.97 per bushel.  Minneapolis US No 2
Yellow corn rail was 44 3/4 cents higher at 6.74 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 8 1/4 to 13 1/4 cents lower at 4.16 1/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents
higher at 6.75 per bushel.  Portland US 2 Barley, unit trains and Barges-export
was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 48 cents higher at 11.82 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 66 to 89 cents higher from 12.00-12.41 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 3 3/4 cents higher at 14.28
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 15 to 20
cents higher from 14.87 1/4-14.97 1/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were steady at 14.72 per bushel.  Central Illinois 48 percent
Soybean meal, processor rail bid was 5.30 to 6.30 higher from 442.60-445.60 per
ton.  Central Illinois Crude Soybean oil processor bid was 110 to 115 points
lower from 47.92-49.42 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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