STAT Communications Ag Market News

USDA National Grain Review

ST. JOSEPH - May 22/15 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 22.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Grain and soybean bids were mixed, with the higher U.S. dollar pressuring the
grains early.  Heavy rain moved across the Southern Plains and Midwest
supporting the wheat market due to possible quality concerns.  The recent
moisture pressured the corn market as most of the crop is planted and emergence
is ahead of the five year average.  Planting progress was 85 percent complete
for corn and 45 percent for soybeans early in the week.  Planting was slow this
week as conditions were unfavorable.  Freezing temperatures were reported in
parts of Northern Plains supporting the market.  Soybeans were lower as the
record harvest in Brazil triggered the losses.  Weekly export sales for corn
were bullish coming in at 35.2 mb (893,300 mt), with 32.0 mb (812,600 mt) for
the 2014-2015 marketing year.  Export sales for soybeans were good coming in at
8.9 mb (243,000 mt) with 6.1 mb (165,500 mt) for the 2014-2015 marketing year.
Wheat sales were bearish and were listed at 7.4 mb (202,600 mt) with 2.7 mb
(74,400 mt) for the 2014-2015 marketing year.  Wheat was 8-26 cents higher.
Corn was mostly 3-10 lower.  Sorghum was 7 cents lower to 66 cents higher.
Soybeans were 13-25 cents lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 24
1/2 to 26 1/2 cents higher from 6.57 3/4-6.77 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 8 cents higher from 5.17-5.22 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
11 3/4 cents higher from 7.68 1/4-7.88 1/4 per bushel.  Portland US Soft White
wheat rail was not available per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 3 to 4 cents lower from 3.61-
3.68 per bushel.  Kansas City US No 2 truck Yellow Corn was 3 to 4 cents lower
from 3.65-3.67 per bushel.  Omaha corn was 8 cents lower from 3.60-3.62 per
bushel.  Chicago US No 2 Yellow Corn was 3 to 12 cents lower from 3.50-3.69 per
bushel.  Toledo US No 2 rail Yellow corn was 3 cents lower to 4 cents higher at
3.61 per bushel.  Minneapolis US No 2 Yellow corn rail was 10 cents lower at
3.39 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 3 1/4 cents lower from 2.59 1/4-2.99 1/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was not
available per bushel.  Portland US 2 Barley, unit trains and Barges-export was
not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 66 cents higher at 7.23 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 5 to 7 cents lower from 6.79-7.15 per bushel.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 25 1/2 cents lower at 9.31
1/2 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 13 1/2
to 16 1/2 cents lower from 9.63 1/2-9.71 1/2 per bushel.  Kansas City US No 2
Yellow truck soybeans were 14 1/2 cents lower at 9.60 1/2 per bushel.  Illinois
48 percent Soybean meal, processor rail bid was 10 cents lower to 6.90 higher
from 310.10-324.10 per ton.  Central Illinois Crude Soybean oil processor bid
was 59 to 84 points lower from 32.00-33.25 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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