USDA National Grain Review

ST. JOSEPH - Jul 17/15 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 17.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Soybean and wheat bids were mostly lower on the week, with corn trading
mostly higher.   Corn traders are looking at weather forecast that shows
improvement for the eastern Corn Belt.  Ethanol production is helping to keep
support for corn prices.  Soybeans meal remains a positive for soybeans with
good demand.  The NOPA soybean crush this week came in at 142.5 mb this was
higher than pre-report estimates at 142 mb, Wednesday’s crush report was the
highest for a June report.  Wheat prices continue to slide downhill on harvest
pressure.  Corn crop conditions remain at 69 percent rated good to excellent
with 9 percent rated poor to very poor compared to 8 percent last week.
Uneasiness remains in the grains as areas that have rained soaked crops offer
very little hope for producing an average yield which should bear watching for
corn prices going forward. The old saying “rain makes grain” is true more often
than not, it will likely discount the negative impact on too much rain in key
areas.  The debate going forward: Will strong yields in key areas offset low
yields in other areas?  No doubt the debate will start over grain numbers; how
widely varying crop conditions have developed throughout many important
production areas.  Wheat was mostly 16-31 cents lower.  Corn traded mixed,
mostly 1-6 cents higher with sorghum trading 13-35 cents lower.  Soybeans closed
2-13 cents lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 31
cents lower from 6.33 1/4-6.43 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 16 to 25 cents lower from 5.07-5.47 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
17 to 42 cents lower from 6.92-7.22 per bushel.  Portland US Soft White wheat
rail was not available per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 4-6 cents higher from 4.18-
4.29 per bushel.  Kansas City US No 2 truck Yellow Corn was 6 3/4 lower to 1 1/4
cents higher from 4.17-4.25 per bushel.  Omaha US No 2 Yellow Corn was unchanged
at 4.02-4.08 per bushel.  Cicago US No 2 Yellow Corn was 1 1/4 to 6 1/4 cents
higher from 4.10-4.30 per bushel.  Toledo US No 2 rail Yellow corn was 1 1/4
cents higher from 4.23-4.27 per bushel.  Minneapolis US No 2 Yellow corn rail
was 6 1/4 cent higher at 3.91 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 3/4 cents higher from 2.71 1/4-3.11 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 13 cents lower at 8.14 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 14-35 cents lower from 7.64-7.77 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 13 1/4 lower at 9.94 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 2 1/4-7 1/4
lower from 10.49-10.59 per bushel.  Kansas City US No 2 Yellow truck soybeans
were 7 1/4 cents lower at 10.39 per bushel.  Illinois 48 percent Soybean meal,
processor rail bid was 9.50 higher from 382.60-384.60 per ton.  Central Illinois
Crude Soybean oil processor bid was 66-99 points lower from 30.96-32.21 cents
per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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STAT News Service