USDA National Grain Review

ST. JOSEPH - May 16/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 16.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain bids were lower with soybeans trading slightly
higher after suffering losses.  Rain fell last weekend and early this week
stretching over most of the corn-belt which slowed planting.  However, the
recent moisture and favorable weather conditions for planting last week put
pressure on corn and soybeans.  A cool front also moved in dropping temperature
lows into the 30’s.  A warm up is expected by the weekend into next week adding
anxiety to the market.  Soybean old crop supplies are tight which is supportive
in the near term.  The USDA listed corn at 59 percent planted ahead of the 5
year average and soybeans at 20 percent.  The northern corn-belt was behind due
to wet conditions.  Corn is at 18 percent emerged behind the 25 percent average.
Wheat posted losses as beneficial rain fell in parts of the winter wheat region
and supplies are plentiful globally.  Still, dry conditions persist in some
areas of the southern plains.  The HRW wheat was rated 30 percent good to
excellent.  In the spring wheat areas 34 percent of the crop was planted.
Weekly export sales for corn totaled 15.4 mb (390,300 mt) with 13.5 mb (343,000
mt) for 2014-2015 marketing year.  Soybeans had weekly export sales of 14.6 mb
(398,300 mt) with 2.7 mb (73,600 mt) for 2013-2014 marketing year.  Wheat had
export sales totaling 9.3 mb (252,000 mt) with 2.0 mb (54,900 mt) for 2013-2014
marketing year.  Wheat was 35-86 cents lower.  Corn was 20-32 cents lower.
Sorghum was 56-58 cents lower.  Soybeans were 3-12 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 63
3/4 to 86 3/4 cents higher from 8.83 3/4-8.93 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 57 to 67 cents lower from 6.78-6.83 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 35 3/4 cents lower from 8.90-9.10 per bushel.  Portland US
Soft White wheat rail was 40 1/4 to 46 3/4 cents lower from 7.43 1/4-7.70 per
bushel.
   CORN:  Kansas City US No 2 rail White Corn was 20 to 27 cents lower from
4.72-4.87 per bushel.  Kansas City US No 2 truck Yellow Corn was 30 1/4 cents
lower from 4.82 1/4-4.84 1/4 per bushel.  Omaha US No 2 truck Yellow Corn was 31
to 32 cents lower from 4.70-4.71 per bushel.  Chicago US No 2 Yellow Corn was 24
1/4 to 32 1/4 cents lower from 4.69 1/4-4.90 1/4 per bushel.  Toledo US No 2
rail Yellow corn was 32 1/4 cents lower from 4.60 1/4-4.65 1/4 per bushel.
Minneapolis US No 2 Yellow corn rail was 26 1/4 cents lower at 4.61 1/4 per
bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 7 1/2 cents lower at 4.00 1/2 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was 50 cents
higher at 6.50 per bushel.  Portland US 2 Barley, unit trains and Barges-export
was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 57 cents lower at 8.65 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 56 to 58 cents lower from 8.04-8.38 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 3 3/4 cents higher at 14.47
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 10 3/4
to 12 3/4 cents higher from 15.02 1/4-15.30 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 5 3/4 cents higher at 15.20 1/4 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 70 cents higher from
511.40-515.40 per ton.  Central Illinois Crude Soybean oil processor bid was 8
points lower from 41.04-41.29 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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