USDA National Grain Review

ST. JOSEPH - Jul 24/15 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 24.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   All grains were lower on the week.  Corn traders are looking at weather
forecast that shows improvement for the eastern Corn Belt.  Soybeans meal
remains a positive for soybeans with good demand.  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 29-51 cents lower.  Corn traded
mixed, mostly 16-26 cents lower with sorghum trading 44-46 cents lower.
Soybeans closed mostly 1-4 cents lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 40
1/4 to 46 1/4 cents lower from 5.87-6.03 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 41 to 51 cents lower from 4.56-5.06 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
29 1/4 to 39 1/4 cents lower from 6.52 3/4-6.92 3/4 per bushel.  Portland US
Soft White wheat rail was not available per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 1 cent higher to 3 cents lower
from 4.19-4.26 per bushel.  Kansas City US No 2 truck Yellow Corn was 24 3/4-26
3/4 lower from 3.92 1/4-3.98 1/4 per bushel.  Omaha US No 2 Yellow Corn was 18-
23 cents lower from 3.84-3.85 per bushel.  Chicago US No 2 Yellow Corn was 16
3/4-26 3/4 cents lower from 3.93 1/4-4.03 1/4 per bushel.  Toledo US No 2 rail
Yellow corn was 21 3/4-23 3/4 lower from 4.01 1/4-4.03 1/4 per bushel.
Minneapolis US No 2 Yellow corn rail was 24 cents lower at 3.67 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 19 3/4 cents lower from 2.51 1/2-2.91 1/2 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 48 cents lower at 7.66 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 47-60 cents lower from 7.04-7.30 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 1 cent lower at 9.93 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 1 cent lower to
1 cent higher from 10.48-10.60 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 4 cents lower at 10.35 per bushel.  Illinois 48 percent Soybean
meal, processor rail bid was .60 cents to 3.60 lower from 379.00-384.00 per ton.
Central Illinois Crude Soybean oil processor bid was 52-77 points lower from
30.44-31.44 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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