USDA National Grain Review

ST. JOSEPH - Jul 25/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 25.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, Corn and wheat closed lower, while soybeans traded
higher mostly on good export demand.  Corn and soybean crops are still seeing
positive to ideal weather conditions across the Corn Belt as July’s weather
remains cool and pleasant.  The percent of corn reaching the silking stage
reached 56 percent this week surpassing the 5 year average.  Overall corn crop
conditions are rated 76 percent acres rated good to excellent.  Soybeans are
rated 73 percent of the bean acres good to excellent.  Corn and soybeans are
both expecting bumper crops with ending stocks expected to increase
significantly as yield estimates continue to improve.  Weekly export sales for
corn totaled 56.5 mb with 11.5 mb for 2013-2014 marketing year.  Soybeans had
weekly export sales of 98.4 mb with 8.3 mb for the 2013-2014 marketing year.
Wheat had weekly export sales of 16.3 mb for the 2014-2015 marketing year.
Wheat closed the week 22-41 cents lower.  Corn traded 17-23 cents lower with
Sorghum 31-45 cents lower.  Soybeans closed 22-39 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 23
1/2-25 1/2 cents lower from 7.33 1/2-7.45 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 32-41 cents lower from 4.98-5.08 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 7 3/4-52 3/4 cents higher from 8.29 3/4-9.19 3/4 per bushel.
Portland US Soft White wheat rail was 1 1/4-22 cents lower from 6.28 3/4-6.98
3/4 per bushel.
   CORN:  Kansas City US No 2 rail White Corn had no bid this week.  Kansas City
US No 2 truck Yellow Corn was 18 cents lower from 3.61 1/2-3.63 1/2 per bushel.
Omaha US No 2 truck Yellow Corn was 22-23 cents lower from 3.40-3.44 per bushel.
Chicago US No 2 Yellow Corn was 17-18 cents lower from 3.47 1/2-3.7391 1/2 per
bushel.  Toledo US No 2 rail Yellow corn was 18-19 cents lower from 3.49 1/2-
3.53 1/2 per bushel.  Minneapolis US No 2 Yellow corn rail was 17 cents lower at
3.42 1/2 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1/4 cent lower from 3.77-3.87 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was unchanged at
5.60 per bushel.  Portland US 2 Barley, unit trains and Barges-export was not
available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 41 cents lower from 6.33-
6.42 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to
the farmer, fob elevator) was 31-45 cents lower from 6.06-6.31 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 23 3/4 cents higher at
12.38 1/2 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 22
3/4-24 3/4 cents higher from 12.69 1/2-13.07 1/2 per bushel.  Kansas City US No
2 Yellow truck soybeans were 39 3/4 cents higher at 13.09 1/2 per bushel.
Central Illinois 48 percent Soybean meal, processor rail bid was 12.80-14.80
higher from 442.30-445.30 per ton.  Central Illinois Crude Soybean oil processor
bid was 13 points lower from 36.74-37.24 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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STAT News Service