USDA National Grain Review

ST. JOSEPH - Jun 14/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jun 14.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids closed lower for the week.  On
Wednesday of this week, USDA came out with its Supply and Demand Estimates for
June.  Corn planting is still making progress with 95 percent now completed.
USDA left corn acres alone in this report and will wait until the acreage report
in late June.  USDA did reduce its estimated yield to 156.5 bushels per acre
down about 1.5 bpa from May’s 158 bpa.  USDA reduced feed usage a little over 2
percent to 5.2 billion bushels and increased ethanol usage 1 percent to 4.9
billion bushels.  USDA made no changes to soybeans from the May estimates.
Wheat crop has some concerns with hard red winter wheat crop suffering from
draught and frost damage this spring while soft red winter wheat looks better
with output estimates about 21 percent higher than last year with hard red
winter wheat is estimated about 22 percent lower.  Weekly export sales for corn
were on the low side with 149,500 mt (5.9 mb) with 81,500 mt (3.2 mb) for 2012-
2013.  Soybeans had weekly export sales totaling 480,600 mt (17.7 mb) with only
33,500 mt (1.1 mb) for current marketing year 2012-2013.  Wheat had export sales
totaling 427,200 mt (15.7 mb).  Wheat closed mostly 13-20 cents lower.  Corn
traded mostly 16-22 cents lower while sorghum closed 15-70 cents lower.
Soybeans closed 8-28 cents lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 17
to 20 cents lower from 7.93 1/2-8.55 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 13 cents lower at 7.05 per bushel.  Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 5
1/4 cents to 25 1/4 cents lower from 9.05-9.25 per bushel.  Portland US Soft
White wheat rail was not available per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 5 higher to 5 lower from 7.09-
7.24 per bushel.  Kansas City US No 2 truck Yellow Corn was 16 to 19 cents lower
from 7.12-7.17 per bushel.  Omaha US No 2 truck Yellow Corn was 17 to 19 cents
lower at 7.11 per bushel.  Chicago US No 2 Yellow Corn was 19 3/4 to 22 3/4
cents lower from 6.68 1/2-7.03 1/2 per bushel.  Toledo US No 2 rail Yellow corn
was 19 3/4 cents lower from 6.81 1/2-6.85 1/2 per bushel.  Minneapolis US No 2
Yellow corn rail was 11 3/4 cents lower at 6.80 1/2 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 9 3/4 cents higher from 4.28 1/4-4.38 1/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 15 cents
higher at 6.90 per bushel.  Portland US 2 Barley, unit trains and Barges-export
was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 70 cents lower at 11.50 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 15 to 37 cents lower from 11.48-11.86 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 15 cents lower at 15.15 1/4
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 8 to 28
cents lower from 15.42 1/4-15.70 1/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 8 cents lower at 15.17 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 1.40 to 3.40 lower from 486.60-
497.60 per ton.  Central Illinois Crude Soybean oil processor bid was 32 points
lower from 46.59-48.34 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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