USDA National Grain Review

ST. JOSEPH - May 23/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 23.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain bids were lower with soybeans trading sharply
higher on good buying demand and tight old crop supplies.  The biggest gains
posted in the soybeans were on Wednesday closing 35 1/2 cents higher.  Corn was
pressured by increased planting progress and favorable growing weather across
the corn-belt.  Last week parts of the mid-section of the U.S. saw record lows
consecutively causing minimal damage to crop.  Some areas of the Plains and
Midwest saw much needed moisture especially in the Texas Pan Handle where rain
has been non-existent.  Wheat was lower on bearish global wheat conditions and
spillover pressure from corn.  Weekly export sales for corn totaled 22.5 mb with
20 mb for 2013-2014 marketing year.  Soybeans had weekly export sales of
totaling 22.6 mb with 6.0 mb for 2013-2014 marketing year.  Wheat had export
sales at 12.9 mb with 5.2 mb for the 2013-2014 marketing year.  Wheat was 14-27
cents lower.  Corn was mostly 3-15 cents lower.  Sorghum was mostly 12-14 cents
lower.  Soybeans were 41-61 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 17
to 27 cents lower from 8.56 3/4-8.76 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 18 to 19 cents lower from 6.59-6.65 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
14 to 19 cents lower from 8.76-8.91 per bushel.  Portland US Soft White wheat
rail was 19 to 20 cents lower from 7.24 1/4-7.50 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 7 to 15 cents lower from 4.65-
4.72 per bushel.  Kansas City US No 2 truck Yellow Corn was 3 1/2 to 5 1/2 cents
lower from 4.76 3/4-4.80 3/4 per bushel.  Omaha US No 2 truck Yellow Corn was
steady to 3 cents higher from 4.70-4.74 per bushel.  Chicago US No 2 Yellow Corn
was 3 1/2 to 7 1/2 cents lower from 4.61 3/4-4.86 3/4 per bushel.  Toledo US No
2 rail Yellow corn was 5 1/2 to 7 1/2 cents lower from 4.52 3/4-4.59 3/4 per
bushel.  Minneapolis US No 2 Yellow corn rail was 10 1/2 cents lower at 4.50 3/4
per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 4 1/2 cents lower at 3.96 per bushel.  US No 3 or better rail malting
Barley, 70 percent or better plump out of Minneapolis was 50 cents lower 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 lower at 8.51 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 12 cents lower to 21 cents higher from 8.25-8.26 per
cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 61 1/2 cents higher at
15.08 3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 41
1/2 to 48 1/2 cents higher from 15.43 3/4-15.78 3/4 per bushel.  Kansas City US
No 2 Yellow truck soybeans were 48 1/2 cents higher at 15.68 3/4 per bushel.
Central Illinois 48 percent Soybean meal, processor rail bid was 18.10-20.10
higher from 531.50-533.50 per ton.  Central Illinois Crude Soybean oil processor
bid was 43 points lower from 40.61-40.86 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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STAT News Service