USDA National Grain Review

ST. JOSEPH - Jul 26/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 26.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids closed lower with wheat trading
mixed.  Corn and soybeans saw sharp declines as basis dropped severely and
favorable growing conditions in the corn-belt helped pressure.  Last weekend
areas of the Midwest saw rain and a milder forecast to help benefit development
during pollination.  Chances of rain and cooler weather continued through the
week with some areas receiving timely moisture.  However, parts of the plains
and western corn-belt continue to be dry.  Elevators and processors lowered
their basis on increased producer selling and buyers having sufficient supplies
until new crop is available.  Corn was rated 63 percent good to excellent which
was down 3 points and soybeans were rated 64 percent good to excellent, down 1
percentage point.  The maturity on both crops is also behind normal due to late
planting.  Net weekly export sales for wheat came in at 661,400 tonnes for the
current marketing year and no sales reported for the next.  Corn export sales
were bearish with new crop sales at 516,000 tonnes.  Net weekly export sales for
soybeans came in at 128,300 tonnes for the current marketing year and 665,200
for the next year for a total of 793,500.  Net meal sales came in at 184,000
tonnes for the current marketing year and 145,600 for the next for a total of
329,600.  Net oil sales came in at 3,300 tonnes for the current marketing year.
Wheat was 11 cents lower to 110 cents higher.  Yellow Corn was 45 cents to 1.26
lower.  Sorghum was 40-80 cents lower.  Soybeans were 1.60-2.40 lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 7
to 10 cents higher from 7.87 1/4-8.47 1/4 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 lower at 6.68 per bushel.  Minneapolis and Duluth US No
1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 2 ½ cents lower
to 2 1/2 cents higher at 8.27 3/4 per bushel.  Portland US Soft White wheat rail
was 6 1/4 to 11 1/4 cents lower from 6.99 1/4-7.24 1/4 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 32 to 41 cents lower from
6.32-6.51 per bushel.  Kansas City US No 2 truck Yellow Corn was 50 to 55 cents
lower from 6.61-6.66 per bushel.  Omaha US No 2 truck Yellow Corn was 1.26 lower
from 5.66-5.76 per bushel.  Chicago US No 2 Yellow Corn was 85 to 95 cents lower
from 5.56-5.96 per bushel.  Toledo US No 2 rail Yellow corn was 45 to 55 cents
lower from 6.36-6.41 per bushel.  Minneapolis US No 2 Yellow corn rail was 1.18
lower at 5.60 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 15 1/4 cents lower from 3.68-3.73 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was 5 cents lower
at 6.85 per bushel.  Portland US 2 Barley, unit trains and Barges-export was not
available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 40 cents lower at 10.96 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 80 cents lower at 10.64 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 1.60 lower at 13.34 1/4 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 1.84 to 1.89
lower from 13.85 1/4-14.05 1/4 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 2.40 lower at 13.29 per bushel.  Central Illinois 48 percent
Soybean meal, processor rail bid was 26.60 to 47.60 lower from 517.80-541.80 per
ton.  Central Illinois Crude Soybean oil processor bid was 171 to 196 points
lower from 42.71-44.31 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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