USDA National Grain Review

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

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids traded mixed.  All grains
opened the week with losses after USDA’s WASDE Report had little for the market
to be bullish about.  U.S. ending stocks for soybeans were lowered by only 5
million bushels to 145 mb.  USDA increased world ending stocks for corn from
157.30 mmt to 158.47 mmt.  U.S. ending stocks for corn were reduced slightly
from 1.481 bb to 1.456 bb with a 25 mb increase to export demand.  Wheat
estimates were left unchanged.  China also reported slower than expected
economic growth which pressured soybeans.  The Ukraine crisis continues to
support the wheat and corn market.  Winter wheat is coming out of dormancy as
temperatures are warming up.  Parts of the Southern Plains continue to be dry
and are in need of moisture.  Texas HRW wheat crop is rated at 28 percent good
to excellent, while Kansas is at 37 percent good to excellent.  Corn had bullish
export sales of 787,000 mt (31.2 mb) with 683,400 mt (27.1 mb for 2013-2014
marketing year.  Soybeans had bullish export sales of 890,400 mt (32.7 mb) with
113,500 mt (4.2 mb) for 2013-2014 marketing year.  Wheat had export sales of
566,100 mt (20.8 mb) with 476,900 mt (17.5 mb) for 2013-2014 marketing year.
Wheat was 9 cents lower to 34 cents higher.  Corn was mostly 2-9 cents higher.
Sorghum was 3-11 cents lower.  Soybeans were 26-246 cents lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 1
1/2 cents lower to 34 1/2 cents higher from 8.62 3/4-8.86 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 27 to 29 cents higher from 6.93-7.02 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 9 3/4 cents lower to 25 1/4 cents higher from 9.70
1/2-9.85 1/2 per bushel.  Portland US Soft White wheat rail was 9 to 13 3/4
cents higher from 7.40-7.53 3/4 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 2 to 5 cents lower from 4.92-
5.03 per bushel.  Kansas City US No 2 truck Yellow Corn was 6 cents lower from
4.78-4.80 per bushel.  Omaha US No 2 truck Yellow Corn was 9 to 12 cents lower
from 4.56-4.60 per bushel.  Chicago US No 2 Yellow Corn was 5 to 8 cents lower
from 4.58-4.79 per bushel.  Toledo US No 2 rail Yellow corn was 4 to 8 cents
lower from 4.60-4.66 per bushel.  Minneapolis US No 2 Yellow corn rail no bid
per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 11 1/4 to 23 1/4 cents lower from 4.45-4.75 per bushel.  US No 3 or
better rail malting Barley, 70 percent or better plump out of Minneapolis was 10
cents lower at 5.90 per bushel.  Portland US 2 Barley, unit trains and Barges-
export was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 11 cents lower at 8.66 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 3 to 10 cents lower from 8.39-8.56 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 26 3/4 cents lower at 13.61
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 36 3/4
to 46 3/4 cents lower from 13.94 1/4-14.26 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 33 3/4 cents lower at 14.06 1/4 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 13.00 to 14.00 lower
from 476.90-481.90 per ton.  Central Illinois Crude Soybean oil processor bid
was 135 to 150 points lower from 41.24-41.99 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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