ST. JOSEPH - Aug 16/13 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 16.
WEEKLY NATIONAL GRAIN MARKET REVIEW Compared to last week, grain and soybean bids closed mixed. The grains saw support from the bullish USDA report. Soybeans posted additional gains from good demand and concerns of unseasonably cooler weather. Lack of rain and warmer temperature outlook for some parts of the corn-belt also lend a boost to corn. The USDA report for wheat had all wheat carryout pegging at 551 million bushels which was down from the July estimate of 576 million. The world numbers were slightly bearish. U.S. all wheat production for 2013-2014 was at 2.114 billion bushels, unchanged from last months forecast. World ending stocks for 2013-2014 came in at 172.99 million tonnes, up from last months numbers of 172.38 million. The U.S. corn yield was projected at 154.4 bushels per acre with a total production at 13.76 billion bushels. Old crop carryout declined to 719 million bushels and new crop at 1.87 billion bushel. Soybean yield was at 42.6 bushel per acre. The total production was reduced by 17 million bushels to 3.25 billion bushels. Old crop carryout was left unchanged at 125 million bushels. However, new crop was reduced to 220 million bushels. Export sales for corn 836,100 tonnes, all for the next marketing year. Weekly export sales for soybeans came in at 1,893,400 tonnes all for the next marketing year. Net soybean meal sales came in at 122,400 tonnes for the current marketing year and 121,100 for the next. Net soybean oil sales came in at 1,800 tonnes for the current marketing year and 6,000 for the next. The NOPA crush came in line with expectations at 116.34 million. Net weekly export sales for wheat came in at 490,100 tonnes for the current marketing year and 5,500 for the next for a total of 495,600 tonnes. Wheat was mostly 1-21 cents higher. Corn was 6 cents lower to 26 cents higher. Sorghum was 35-59 cents lower. Soybeans were mostly 76-87 cents higher. WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 1 to 16 cents higher from 7.88-8.41 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 25 cents lower at 6.27 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 1 to 21 cents higher from 8.29 1/2-8.59 1/2 per bushel. Portland US Soft White wheat rail was 3 to 7 cents higher from 7.20-7.32 1/2 per bushel. CORN: Kansas City US No 2 rail White Corn was 6 cents lower to 10 cents higher from 5.09-5.30 per bushel. Kansas City US No 2 truck Yellow Corn was 2 cents lower to 3 cents higher from 5.57-5.62 per bushel. Omaha US No 2 truck Yellow Corn was 8 to 26 cents higher from 6.00-6.07 per bushel. Chicago US No 2 Yellow Corn was 8 to 18 cents higher from 5.41 1/2-6.31 1/2 per bushel. Toledo US No 2 rail Yellow corn was 2 cents lower to 8 cents higher from 5.71 1/2-6.01 1/2 per bushel. Minneapolis US No 2 Yellow corn rail was 8 cents higher at 5.86 1/2 per bushel. OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 10 3/4 20 3/4 cents higher from 4.02 3/4-4.17 3/4 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was steady at 6.15 per bushel. Portland US 2 Barley, unit trains and Barges-export was not available. SORGHUM: US No 2 yellow truck, Kansas City was 59 cents lower at 8.43 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 35 cents lower at 9.96 per cwt. OILSEEDS: Minneapolis Yellow truck soybeans were 13 3/4 cents lower at 12.94 1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 76 1/4 to 81 1/4 cents higher from 14.25 1/2-14.45 1/2 per bushel. Kansas City US No 2 Yellow truck soybeans were 87 cents higher at 14.31 per bushel. Central Illinois 48 percent Soybean meal, processor rail bid was 11.20 to 15.20 higher from 449.80-451.80 per ton. Central Illinois Crude Soybean oil processor bid was 127 to 147 points higher from 41.82-43.42 cents per pound. SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
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STAT News Service
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