USDA National Grain Review

ST. JOSEPH - Aug 1/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 1.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, Corn and soybeans closed lower, while wheat traded
mixed.  Corn and soybean crops are still seeing pleasant to ideal weather
conditions across the Corn Belt as July’s weather ended with good growing
conditions that are weighing on the markets.  The percent of corn reaching the
silking stage reached 78 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 with 76
percent blooming.  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 49.9 mb with 6.8 mb for 2013-2014
marketing year.  Soybeans had weekly export sales of 53.5 mb with 6.9 mb for the
2013-2014 marketing year.  Wheat had weekly export sales of 29.4 mb for the
2014-2015 marketing year.  Wheat closed the week mixed.  Corn traded steady to 5
1/2 cents lower, with sorghum mostly 4-20 cents lower.  Soybeans closed 15 1/2-
48 lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2
3/4 cents lower to 15 1/4 cents higher from 7.30 3/4-7.60 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 21 cents lower to 12 cents higher from
4.79-5.20 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0
to 14.5 percent protein rail, was 33 3/4-83 3/4 cents lower from 7.96-8.36 per
bushel.  Portland US Soft White wheat rail was 1/2 cent lower to 2 1/2 cents
higher from 6.30 1/4-6.98 1/4 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 1 1/2-4 1/2 cents lower from 3.57-3.62 per bushel.
Omaha US No 2 truck Yellow Corn was steady to 2 cents lower from 3.40-3.42 per
bushel.  Chicago US No 2 Yellow Corn was 4 1/2 cents lower to 18 1/2 cents
higher from 3.43-3.92 per bushel.  Toledo US No 2 rail Yellow corn was 3 1/2-5
1/2 cents lower from 3.46-3,48 per bushel.  Minneapolis US No 2 Yellow corn rail
was 15 1/2 cents lower at 3.27 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 1/2 to 11 1/2 cents lower at 3.75 1/2 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 4 cents lower to 5 cents
higher at 6.38 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid
or bid to the farmer, fob elevator) was mostly 4-20 cents lower from 6.02-6.11
per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 48 cents lower at 11.90 1/2
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 15 1/2-17
1/2 cents lower from 12.52-12.92 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 27 1/2 cents lower at 12.82 per bushel.
Central Illinois 48 percent Soybean meal, processor rail bid was 4.00-6.00 lower
from 438.30-439.30 per ton.  Central Illinois Crude Soybean oil processor bid
was 12 points higher from 36.86-37.26 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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STAT News Service