STAT Communications Ag Market News

USDA National Grain Review

ST. JOSEPH - Jul 2/15 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 2.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Grain and soybean bids were sharply higher for the week as quality concerns
continue to affecting both Hard Red Winter Wheat and Soft Red Winter Wheat due
to significant amount of rain late in the growing season.  The spark that got
the fireworks started was USDA’s Grain Stocks Report on Tuesday with all grains
trading sharply higher with September corn trading 30 cents higher, August
soybeans 55 cents higher and wheat ranging from 28-32 cents higher.  Corn stocks
came in under average estimates of 4.555 bb fell to 4.465 bb with estimated corn
acres at 88.9 million acres, about 2 percent lower than last year’s planted
acres.  This would be the lowest planted corn acres since 2010 and the thought
that a “big crop could get smaller” shook the confidence of the bear.  Corn
stocks are not in a tight situation but the market is becoming somewhat nervous
due to the wet weather problems across the Midwest.  This summer has seen some
of the highest rainfall totals on record in key growing states potentially
drowning out production.  One of the key numbers in the grain report was soybean
stocks for June 1, at 625 million bushels which was 45 million bushels lower
than average trade estimates.  Soybean acres were estimated at 85.139 million
acres which was 32,000 acres lower than the average trade guess.  Wheat was
mostly 26-54 cents higher.  Corn was mostly 24-56 cents higher with Sorghum 80
cents higher.  Soybeans traded 26-43 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 26
1/2-36 1/2 cents higher from 6.76 3/4-6.86 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 36-38 cents higher from 5.46-5.75 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 39 1/2-54 1/2 cents higher from 7.69-7.84 per bushel.
Portland US Soft White wheat rail was not available per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 40-41 cents higher from
4.12-4.24 per bushel.  Kansas City US No 2 truck Yellow Corn was 38-39 cents
higher from 4.21 1/2-4.23 1/2 per bushel.  Omaha corn was 24-26 cents higher at
4.03 per bushel.  Chicago US No 2 Yellow Corn was 42-47 cents higher from 4.08
1/2-4.22 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 56-66 cents higher
from 4.28 1/2-4.40 1/2 per bushel.  Minneapolis US No 2 Yellow corn rail was 38
cents higher at 3.83 1/2 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 10 3/4 cents lower from 2.65-3.05 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
vailable.
   SORGHUM:  US No 2 yellow truck, Kansas City was 80 cents higher at 8.24 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was not available.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 37 cents higher at 10.15
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 40 1/4-
43 1/4 cents higher from 10.50 1/4-10.68 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 26 1/4-31 1/4 higher from 10.48 1/4-10.53 1/4 per
bushel.  Illinois 48 percent Soybean meal, processor rail bid was 18.70-27.70
higher from 367.40-382.40 per ton.  Central Illinois Crude Soybean oil processor
bid was unchanged from 32.86-33.86 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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