USDA National Grain Review

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

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, soybeans and wheat traded higher while corn and
sorghum closed with slight losses.  USDA on Monday released their monthly Supply
and Demand Report showing corn stocks projected at 1.481 bb a reduction of 150
mb on an increase of export demand when compared to last month, but still well
above last year’s carryout.  Even with good export sales corn failed to find
much buying enthusiasm or show any strength this week as corn traded in a quiet
session for the week.  Soybeans found buying support on Thursday of this week
having sharp gains on good buying interest and demand.  Mondays report had
soybean ending stocks left unchanged from last month.  Wheat this week broke out
somewhat from its downtrend posting modest to solid gains on good buying
interest.  Weekly export sales for corn were bullish totaling 1,340,000 mt (52.8
mb) with 1,269,800 mt (50.0 mb) for 2013-2014 marketing year.  Soybeans sales
were light this week totaling 296,200 mt (10.9 mb) with 173,600 mt (6.4 mb) for
2013-2014 marketing year, but overall export sales for the year remain above
average.  Wheat totaled 629,000 mt (23.0 mb) with 597,000 mt (21.9 mb) for 2013-
2014 marketing year.  Wheat closed mostly 13-29 cents higher for the week.  Corn
traded 2-8 cents lower with sorghum closing 4-5 cents lower.  Soybeans closed 5-
18 cents higher for the week.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 24
to 29 cents higher from 7.72 3/4-8.37 3/4 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 15 to 25 cents higher from 6.20-6.35 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
2 1/4 to 3 1/4 cents higher from 8.95 1/2-9.20 1/2 per bushel.  Portland US Soft
White wheat rail was 13 1/4 to 14 3/4 cents higher from 7.14-7.25 1/2 per
bushel.
   CORN:  Kansas City US No 2 rail White Corn was 8 to 10 cents lower from 4.79-
4.82 per bushel.  Kansas City US No 2 truck Yellow Corn was 2 1/2 to 3 1/2 cents
lower from 4.40 1/2-4.45 1/2 per bushel.  Omaha US No 2 truck Yellow Corn was 2
cents lower from 4.30-4.31 per bushel.  Chicago US No 2 Yellow Corn was 3 1/2 to
4 1/2 cents lower from 4.25 1/2-4.39 1/2 per bushel.  Toledo US No 2 rail Yellow
corn was 2 1/4 to 5 1/4 cents higher from 4.29-4.33 per bushel.  Minneapolis US
No 2 Yellow corn rail was 8 1/2 cents lower at 4.18 1/2 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 3 cents lower from 4.33 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 steady at 5.65
per bushel.  Portland US 2 Barley, unit trains and Barges-export was not
available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 4 cents lower at 7.96 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 4 to 5 cents lower from 7.60-7.85 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 18 1/2 cents higher at
12.94 1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 18
1/2 cents higher from 13.51 1/4-13.69 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 5 1/2 to 6 1/2 cents higher from 13.49 1/4-13.54 1/4
per bushel.  Central Illinois 48 percent Soybean meal, processor rail bid was
4.80 to 6.80 higher from 507.80-511.80 per ton.  Central Illinois Crude Soybean
oil processor bid was 88 to 143 points higher from 36.54-37.19 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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