USDA National Grain Review

ST. JOSEPH - May 24/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 24.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids were moderately higher.  Corn
had support from strong basis and good ethanol demand.  Corn also saw active
plantings with Monday afternoon’s crop progress report showing 71 percent
completed after last week’s aggressive planting a 43 percent rise from the
previous week.  Soybeans were higher as tight old crop supplies remain a source
of support.  However, some pressure was noted due to lower cash basis.  Wheat
futures were higher on weather concerns with draught in the southern plains and
rain in the northern states adding to planting delays, along with good export
sales.  Winter wheat conditions are rated 41 percent poor.  Weekly export sales
were positive for wheat coming in at 239,000 tonnes for the current marketing
year and 713,600 for the next for a total of 952,600 tonnes.  Net weekly export
sales for corn came in at 104,600 tonnes for the current marketing year and
341,600 for the next for a total of 446,200 tonnes.  Net weekly export sales for
soybeans came in at 183,500 tonnes for the current marketing year and 838,900
for the next for a total of 1,022,400 tonnes.  Net soybean meal sales came in at
131,200 tonnes for the current marketing year and 125,400 for the next for a
total of 256,600.  Soybean oil sales came in at a totlal of 9,600 tonnes which
were all for the current marketing year.  Wheat was mostly 11-20 cents higher.
Corn was mostly 20-34 cents higher.  Sorghum was 36-38 cents higher.  Soybeans
were mostly 2-17 cents higher with Minneapolis 55 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 11
to 14 cents higher from 8.25 1/2-8.82 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 17 cents higher at 7.30 per bushel.  Minneapolis and Duluth US
No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 3/4 cents
lower to 14 1/4 cents higher from 9.08 1/4-9.13 1/4 per bushel.  Portland US
Soft White wheat rail was 20 to 20 1/2 cents higher from 7.80-7.88 1/4 per
bushel.
   CORN:  Kansas City US No 2 rail White Corn was 12 to 20 cents higher from
7.13-7.30 per bushel.  Kansas City US No 2 truck Yellow Corn was 20 to 25 cents
higher at 7.32 per bushel.  Omaha US No 2 truck Yellow Corn was 25 to 30 cents
higher from 7.27-7.32 per bushel.  Chicago US No 2 Yellow Corn was 20 1/2 to 24
1/2 cents higher from 6.72-7.18 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 34 1/2 cents higher at 7.00 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 7 1/2 to 17 1/2 cents lower from 3.80 1/4-4.00 1/4 per bushel.  US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was
10 cents lower at 6.60 per bushel.  Portland US 2 Barley, unit trains and
Barges-export was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 36 cents higher at 12.18 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 37 to 38 cents higher from 11.82-12.18 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 55 cents higher at 15.22
1/2 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 2 to 5
cents higher from 15.44 1/2-15.64 1/2 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 17 cents higher at 15.35 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 17.10 to 23.10 higher from 477.00-
487.00 per ton.  Central Illinois Crude Soybean oil processor bid was 11 to 26
points lower from 48.76-50.41 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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