USDA National Grain Review

ST. JOSEPH - May 17/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 17.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Grain traded mixed this week with corn and wheat closing lower and soybeans
trading higher.  Temperatures this week warmed up dramatically across much of
the Corn Belt as farmers aggressively planted corn throughout the Mid-West after
a late start.  Soybeans had solid gains this week as old crop soybeans have been
the leader in the soybean market as supplies remain tight.  The monthly NOPA
Soybean Crush Report issued on Wednesday of this week had April soybean crush
lower than expected at 120.1 mb with estimates of 125.5 mb.  Wheat traded lower
as global conditions for wheat remain favorable with world production looking to
rebound this year.  Despite freeze damage and persistent draught conditions that
have threatened winter wheat in the Southern Plains wheat supplies are expected
to be adequate.  Corn had slightly bearish weekly export sales of 335,900 mt
(13.2 mb) with 314,700 mt (12.4 mb) slated for 2012-2013.  Soybeans had export
sales of 422,200 mt (15.5 mb) with a cancellation of 206,300 mt (-7.6 mb) for
2012-2013.  Wheat had bearish export sales of 306,400 mt (11.3 mb) with 71,700
mt (2.6 mb) for 2012-2013.  Wheat was mostly 15-35 cents lower.  Yellow Corn
traded 2-13 cents lower with sorghum trading mixed from 23 cents higher to 13
cents lower.  Soybeans were 9-23 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 28
3/4 to 35 3/4 cents lower from 8.14 1/2-8.68 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 31 cents lower at 7.13 per bushel.  Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 6
1/2 to 16 1/2 cents lower from 8.94-9.14 per bushel.  Portland US Soft White
wheat rail was 15 3/4 to 20 cents lower from 7.60-7.67 3/4 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 6 cents higher from 6.93-7.18
per bushel.  Kansas City US No 2 truck Yellow Corn was 2 lower from 7.07-7.12
per bushel.  Omaha US No 2 truck Yellow Corn was 2 to 5 cents lower at 7.02 per
bushel.  Chicago US No 2 Yellow Corn was 7 1/4 to 13 1/4 cents lower from 6.51
1/2-6.93 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 4 1/4 to 5 1/4
cents lower from 6.79 1/2-6.83 1/2 per bushel.  Minneapolis US No 2 Yellow corn
rail was 3 1/4 cents lower at 6.65 1/2 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 4 3/4 cents lower from 3.97 3/4-4.07 3/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents
lower at 6.70 per bushel.  Portland US 2 Barley, unit trains and Barges-export
was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 23 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 13 cents lower from 11.44-11.81 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 23 3/4 cents higher at
14.67 1/2 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 18
3/4 to 20 3/4 cents higher from 15.39 1/2-15.62 1/2 per bushel.  Kansas City US
No 2 Yellow truck soybeans were 9 cents higher at 15.18 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 8.20 lower to 6.80
higher from 453.90-469.90 per ton.  Central Illinois Crude Soybean oil processor
bid was 30 points higher from 49.02-50.52 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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