USDA National Grain Review

ST. JOSEPH - Sep 12/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Sep 12.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grains and soybean bids were mostly lower.  Grain bids
were under pressure most of the week as the market was anticipating an increase
in estimates for corn and soybean bushels.  On Thursday the USDA released its
Crop Production Report and listed corn yield estimates at 171.7 bpa up 4.3
bushels from last month.  Corn production for 2014 was listed at 14.4 billion
bushels which would be record.  Soybeans were listed at 46.6 bpa yield, up 1.2
bushels from last month.  Soybean production was estimated at 3.91 billion
bushels.  Earlier in the week a cold front moved across the mid-section of the
country, along with heavy rain in the northern parts of the corn-belt which left
5-10 inches on the ground.  Farmers are having concerns of too much moisture as
harvest is near.  Wheat closed 60 cents lower to 2.59 higher.  Corn traded
mostly 2-13 cents lower with sorghum 2-10 cents lower.  Soybeans closed 31 cents
to 1.71 lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 14
cents lower from 6.96 1/4-7.31 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 27 cents lower at 4.41 per bushel.  Minneapolis and Duluth US
No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 60 1/4 cents
lower to 2.59 higher from 8.42 3/4-11.92 3/4 per bushel.  Portland US Soft White
wheat rail was 11 1/4 cents lower to 9 3/4 cents higher from 6.59 1/2-7.00 per
bushel.
   CORN:  Kansas City US No 2 rail White Corn was 7 to 8 cents lower from 3.36-
3.46 this week.  Kansas City US No 2 truck Yellow Corn was 13 1/2 cents lower at
3.31 per bushel.  Omaha US No 2 truck Yellow Corn was 3 to 5 cents lower from
3.33-3.41 per bushel.  Chicago US No 2 Yellow Corn was 5 1/2 to 9 1/2 cents
lower from 3.25-3.74 per bushel.  Toledo US No 2 rail Yellow corn was 2 1/2
cents lower to 2 1/2 cents higher from 3.30-3.38 per bushel.  Minneapolis US No
2 Yellow corn rail was 1/2 cent lower at 3.19 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 3/4 to 12 3/4 cents higher from 3.76 3/4-4.03 3/4 per bushel.  US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was
50 cents higher at 6.20 per bushel.  Portland US 2 Barley, unit trains and
Barges-export was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 9 cents lower at 5.38 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 2 to 10 cents lower from 5.82-6.08 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 31 3/4 cents lower at 9.50
1/2 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 71 3/4
to 96 3/4 cents lower from 10.56 1/2-12.31 1/2 per bushel.  Kansas City US No 2
Yellow truck soybeans were 1.71 3/4 lower at 11.81 1/2 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 26.60 lower to 18.40
higher from 573.80-584.80 per ton.  Central Illinois Crude Soybean oil processor
bid 22 points lower from 32.50-34.00 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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