USDA National Grain Review

ST. JOSEPH - Feb 28/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Feb 28.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, soybean bids were higher, while corn and wheat closed
lower.  Soybeans saw support from good demand and tight supplies along with good
buying support.  Soybean meal and soybean oil also had gains helping to support
prices.  Corn had little fresh news to build on and continues to trade in a
sideways pattern.  Wheat market continues to struggle, as on Thursday of this
week U.S. wheat was shut out on an Egyptian tender which weighed heavily on the
market.  Corn had export sales above expectations at 840,800 mt (33.1 mb) for
the 2013-2014 marketing year.  Soybeans had export sales above expectations
totaling 642,900 mt (23.6 mb) with 327,700 mt (12.0 mb) for the 2013-2014
marketing year.  Wheat had export sales totaling 564,900 mt (20.8 mb) with
365,100 mt (13.4 mb) for the 2013-2014 marketing year.  Wheat was mostly 11-35
cents lower.  Corn traded 1-9 cents lower while sorghum was 4-14 cents lower.
Soybeans closed 27-45 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 11
1/4-18 1/4 cents lower from 7.80 1/2-8.40 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 32-35 cents lower from 6.09-6.21 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 2 3/4-22 3/4 cents higher from 8.83 1/4-9.23 1/4 per bushel.
Portland US Soft White wheat rail was 8 1/2-29 1/4 cents lower from 7.04 1/4-
7.30.
   CORN:  Kansas City US No 2 rail White Corn was 1 cent higher to 5 cents lower
from 4.82-4.93 per bushel.  Kansas City US No 2 truck Yellow Corn was 1/4 cent
higher to 7 3/4 cents lower from 4.46-4.48 per bushel.  Omaha US No 2 truck
Yellow Corn was 1-5 cents lower from 4.38-4.40 per bushel.  Chicago US No 2
Yellow Corn was 7 3/4-9 3/4 cents lower from 4.33-4.50 per bushel.  Toledo US No
2 rail Yellow corn was 7 1/4-9 3/4 cents lower from 4.31-4.38 per bushel.
Minneapolis US No 2 Yellow corn rail was 8 3/4 cents lower at 4.25 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 30 1/4-60 1/4 cents higher from 4.89-5.19 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 14 cents lower at 8.09 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 4-12 cents lower from 7.83-8.00 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 35 1/4 cents higher at
13.43 1/2 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 27
1/4-33 1/4 cents higher from 13.98 1/2-14.15 1/2 per bushel.  Kansas City US No
2 Yellow truck soybeans were 40 1/4-45 1/4 cents higher at 13.98 1/2 per bushel.
Central Illinois 48 percent Soybean meal, processor rail bid was 6.10-13.10
higher from 512.00-521.00 per ton.  Central Illinois Crude Soybean oil processor
bid was 33-58 points higher from 38.86-39.15 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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