USDA National Grain Review

ST. JOSEPH - May 2/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 2.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Grain and soybean bids ended the week on a positive tone despite moderate
to sharp losses posted on Thursday.  Soybeans found good buying support on
tight old-crop supplies and good demand.  However, cancellations of 600,000
bushels of soybeans late in the week limited the gains.  Wheat was higher on
dry weather in the Southern Plains.  Corn had gains on planting delays due to
rain and cool temperatures across the Midwest.  July corn closed with eight
months highs and KC wheat with ten months highs on Tuesday.  USDA reported 19
percent of the corn planted and 3 percent for soybeans; still plenty of time
with today’s planting capabilities.  New daily price limits went into effect May
1st at the CME.  Corn had weekly export sales of 951, 700 mt (37.5 mb) with
937,900 mt (36.9 mb) for 2013-2014 marketing year.  Soybeans had weekly export
sales of 62,500 mt (2.3 mb) with cancellations of 16,400 mt (0.6 mb) for 2013-
2014 marketing year.  Wheat had weekly export sales of 434,500 mt (16.0 mt) with
214,900 mt (7.9 mb) for 2013-2014 marketing year.  Wheat was mostly 10-40 cents
higher.  Corn was steady to 9 cents higher.  Sorghum was 2-10 cents higher.
Soybeans were mostly 1-6 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 25
1/2 to 40 1/2 cents higher from 9.00-9.42 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 6-11 cents higher from 7.07-7.27 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
10-34 cents higher from 8.71 1/4-8.95 1/4 per bushel.  Portland US Soft White
wheat rail was 13 1/4-25 cents higher from 7.80-7.92 1/4 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was unchanged to 9 cents higher
from 4.95-5.11 per bushel.  Kansas City US No 2 truck Yellow Corn was 3 3/4-6
3/4 cents higher from 5.03-5.05 per bushel.  Omaha US No 2 truck Yellow Corn
was unchanged to 2 cents higher from 4.91-4.93 per bushel.  Chicago US No 2
Yellow Corn was 2 3/4 cents higher from 4.87-5.08 per bushel.  Toledo US No 2
rail Yellow corn was 2 3/4-3 3/4 higher from 4.83-4.88 per bushel.  Minneapolis
US No 2 Yellow corn rail was 5 3/4 cents higher at 4.78 er bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 33 3/4-58 3/4 cents lower at 4.08 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 25 cents
lower at 6.25 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 higher at 8.88 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 2 to 10 cents higher from 8.78-8.79 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 16 cents lower at 14.29 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 4-6 cents
higher from 14.86-15.16 per bushel.  Kansas City US No 2 Yellow truck soybeans
were 1 cent higher at 15.03 per bushel.  Central Illinois 48 percent Soybean
meal, processor rail bid was 1.50-2.50 higher from 508.70-511.70 per ton.
Central Illinois Crude Soybean oil processor bid was 93-118 points lower from
41.16-41.41 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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