USDA National Grain Review

ST. JOSEPH - Apr 4/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Apr 4.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids were higher with wheat trading
sharply lower.  The USDA reports on Monday set the tone for grains early with
wheat slightly higher and corn and soybeans posting moderate gains.  Soybeans
found support from tight soybean stocks at 992 million bushels, but predicted a
record high 81.5 million acres of soybeans to be planted this spring.  Corn saw
gains with plantings at the low end of expectations of 91.7 million acres which
would be the lowest planted acres since 2010.  Estimated plantings acres would
be 3.67 million acres less than last year.  Corn stocks were pegged at 7 billion
bushels just below pre-report range.  Wheat stocks came in at 1.056 billion
bushels slightly above pre-report estimates.  Concerns of planting delays added
to the rally in corn.  The weather across the Midwest has been cold and wet
throughout, keeping farmers on the sidelines.  The northern con-belt saw more
snow, while parts of the south had tornado destruction.  Wheat posted sharp
losses as heavy rain fell in much of the soft red wheat areas and plentiful
world supplies.  However, key parts of the HRW region are in need of rain
limiting the losses. Corn had weekly export sales of 998,500 mt (39.6 mb) with
960,600 mt (38.1 mb) for 2013-2014 marketing year.  Soybeans had bullish export
sales of 86,500 mt (3.1 mb) with 66,200 mt (2.4 mb) for 2013-2014 marketing
year.  Wheat had export sales of 646,900 mt (23.8 mb) with 336,400 mt (12.4 mb)
for 2013-2014 marketing year.  Wheat was mostly 34-83 cents lower.  Corn was 4-
11 cents higher.  Sorghum was 14-15 cents higher.  Soybeans were 29-40 cents
higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 46
3/4 to 62 3/4 cents lower from 8.62-8.72 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 34 to 43 cents lower from 6.96-7.05 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
68 3/4 to 83 3/4 cents lower from 8.70 1/2-9.05 1/2 per bushel.  Portland US
Soft White wheat rail was 5 1/2 to 39 cents lower from 7.46-7.80 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 4 to 8 cents higher from 4.90-
4.97 per bushel.  Kansas City US No 2 truck Yellow Corn was 8 to 9 cents higher
from 4.93-4.96 per bushel.  Omaha US No 2 truck Yellow Corn was 10 cents higher
from 4.80-4.82 per bushel.  Chicago US No 2 Yellow Corn was 11 cents higher from
4.78-5.03 per bushel.  Toledo US No 2 rail Yellow corn was 10 cents higher from
4.79-4.83 per bushel.  Minneapolis US No 2 Yellow corn rail was at 4.69 per
bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 34 cents lower to 8 cents higher from 4.16 3/4-4.84 3/4 per bushel.  US
No 3 or better rail malting Barley, 70 percent or better plump out of
Minneapolis was steady at 6.00 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 higher at 8.93 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 14 to 15 cents higher from 8.66-8.73 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 33 3/4 cents higher at
14.41 1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 29
3/4 to 33 3/4 cents higher from 14.81 1/4-15.10 1/4 per bushel.  Kansas City US
No 2 Yellow truck soybeans were 40 3/4 cents higher at 15.05 1/4 per bushel.
Central Illinois 48 percent Soybean meal, processor rail bid was 5.60 to 9.60
higher from 508.10-520.10 per ton.  Central Illinois Crude Soybean oil processor
bid was 149 points higher from 40.67-40.92 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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