USDA National Grain Review

ST. JOSEPH - Apr 11/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Apr 11.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, corn and soybean bids were higher with wheat trading
lower.  The USDA reports on Wednesday slashed both corn and soybean stocks in
its Supply and Demand report.  Soybean ending stocks fell to 135 mb, a decrease
of 10 mb.  USDA trimmed corn ending stocks by 125 mb to 1.331 bb with increasing
exports.  Continued strong export sales for corn during March is supporting
higher than expected exports and corn demand.  Corn is also seeing support from
soybean prices as future levels are back near 15.00 a bushel before falling back
on Thursday as domestic supplies are at very tight levels.  Corn planting has
been slowed, but speculation that warmer weather over the next couple of weeks
and rain forecasted in parts of the Midwest were it is needed will help to speed
field work.  Wheat had modest losses as rain fell in much of the soft red wheat
areas and plentiful world supplies.  Corn had weekly export sales 716,700 mt
(28.2 mb) with 658,700 mt (25.9 mb) for 2013-2014 marketing year.  Soybeans had
export sales of 289,500 mt (10.6 mb) with 79,100 mt (2.9 mb)for 2013-2014
marketing year.  Wheat had bearish export sales of 390,900 mt (14.4 mb) with
41,800 mt (1.5 mb) for 2013-2014 marketing year.  Wheat was mostly 9 1/2 to 20
cents lower with Minneapolis having sharp losses of 34 1/2-44 1/2 cents lower.
Corn was had slight gains of 1/4 cent to 5 1/4 cents higher with sorghum trading
mixed from 7 cents lower to 3 cents higher.  Soybeans were 4-12 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 9
1/2 to 19 1/2 cents lower from 8.42 1/2-8.52 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 14 to 17 cents lower from 6.82-6.88 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 34 1/2 to 44 1/2 cents lower from 8.36-8.61 per bushel.
Portland US Soft White wheat rail was 13 3/4 to 20 cents lower from 7.32 1/4-
7.60 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was steady to 2 cents higher from
4.90-4.99 per bushel.  Kansas City US No 2 truck Yellow Corn was 1/4 to 1 1/4
cents higher from 4.94 1/4-4.96 1/4 per bushel.  Omaha US No 2 truck Yellow Corn
was 4-7 cents higher from 4.84-4.89 per bushel.  Chicago US No 2 Yellow Corn was
1 1/4-5 1/4 cents higher from 4.83 1/4-5.04 1/4 per bushel.  Toledo US No 2 rail
Yellow corn was 1 1/4 cents higher from 4.80 1/4-4.84 1/4 per bushel.
Minneapolis US No 2 Yellow corn rail was 1 1/4 cent higher at 4.70 1/4 per
bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 3 1/4 cents higher to 9 3/4 cents lower from 4.20-4.75 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 7 cents lower at 8.86 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 2 to 3 cents higher from 8.68-8.76 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 12 cents higher at 14.53
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 8 to 12
cents higher from 14.89 1/4-15.22 1/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 4 cents higher at 15.09 1/4 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 3.60 lower to .40 cents higher from
504.50-520.50 per ton.  Central Illinois Crude Soybean oil processor bid was 108
to 133 points higher from 41.75-42.25 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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