ST. JOSEPH - Aug 8/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 8.
WEEKLY NATIONAL GRAIN MARKET REVIEW Compared to last week, Corn closed with slight to modest gains, wheat traded mostly higher while soybeans closed lower. Corn and soybean crops are still seeing pleasant to ideal weather conditions across the Corn Belt as Augusts weather started with good growing conditions that are weighing on the markets. Corn and soybeans traders are still aware of bearish fundamental situations as the forthcoming U.S. crop looks to set records with ending stocks expected to increase significantly as yield estimates continue to improve. Wheat found some support this week from concerns again rising in the Ukraine on Russian troop builup. Weekly export sales for corn totaled 34.6 mb with 4.8 mb for 2013-2014 marketing year. Soybeans had weekly export sales of 40.5 mb with 3.5 mb for the 2013-2014 marketing year. Wheat had weekly export sales of 22.8 mb with 21.7 mb for the 2014-2015 marketing year. Wheat closed the week mostly 5 3/4-13 1/2 higher. Corn traded 2 1/2-5 cents higher, with sorghum mostly 7-22 cents higher. Soybeans closed 4-29 cents lower. WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 5 3/4 cents higher to 3 3/4 cents lower from 7.36 1/4-7.56 1/4 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 34 cents higher to 7 cents lower at 5.13 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 13 1/2-33 1/2 cents higher from 8.29 1/2-8.49 1/2 per bushel. Portland US Soft White wheat rail was 31 1/4 cents higher to 1 3/4 lower from 6.61 1/2-6.96 1/2 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 2 1/2-4 1/2 cents higher from 3.59 1/2-3.66 1/2 per bushel. Omaha US No 2 truck Yellow Corn was 5 cents higher from 3.45-3.47 per bushel. Chicago US No 2 Yellow Corn was 2 1/2 cents higher to 14 1/2 cents lower from 3.45 1/2-3.77 1/2 per bushel. Toledo US No 2 rail Yellow corn was 2 1/2 cents higher from 3.48 1/2-3.50 1/2 per bushel. Minneapolis US No 2 Yellow corn rail was 9 1/2 cents higher at 3.36 1/2 per bushel. OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 6 1/4 cents higher at 3.81 3/4 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was .25 cents higher at 5.85 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 6.45 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 13 to 22 cents higher from 6.15-6.33 per cwt. OILSEEDS: Minneapolis Yellow truck soybeans were 2 1/2 cents lower at 11.88 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 4-14 cents lower from 12.48-12.78 per bushel. Kansas City US No 2 Yellow truck soybeans were 29 cents lower at 12.53 per bushel. Central Illinois 48 percent Soybean meal, processor rail bid was .70-1.70 lower from 436.60-438.60 per ton. Central Illinois Crude Soybean oil processor bid 16-116 points lower from 35.70-37.20 cents per pound. SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
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STAT News Service
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