ST. JOSEPH - May 9/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 9.
WEEKLY NATIONAL GRAIN MARKET REVIEW Grains all traded higher this week with wheat advancing with the most gains, as grains position themselves ahead of USDAs Supply and Demand Report to be issued on Friday May 9th. Corn market this week continued to fight back above the 5.00 mark as corn planting was at 29 percent completed to start the week as cold wet weather has slowed the start of the planting season. This percentage for corn planting should rise quickly this week as farmers have had several days of dry warm weather to plant across the Midwest. Soybeans will be looking at new-crop ending stocks in the USDA report which could be possibly bearish as grain traders will be interested in the soybean numbers to come. The extended weather forecast for the next 45 days will get plenty of attention as corn and soybean planting and corn emergence will be watched carefully. The wheat market especially the KC wheat market continues to make impressive gains due to the drought concerns in the Southwest Plains is getting the wheat market plenty of attention as the weather for the most part is not improving. Corn had weekly export sales totaling 11.1 mb (282,300 mt) with 6.4 mb (161,300 mt) for 2013- 2014 marketing year. Soybeans had export sales of 2.0 mb (55,00 mt) with 1.5 mb (40,800 mt) for 2013-2014 marketing year. Wheat had weekly export sales totaling 16.4 mb (445,500 mt) with 11.8 mb (320,500 mt) for 2013-2014 marketing year. Wheat closed mostly 23-54 cents higher for the week. Corn traded 9-14 cents higher with grain sorghum trading mixed from 18 cents lower to 17-34 cents higher. Soybeans closed 3 1/2-11 1/2 cents higher. WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 38 1/2 to 47 1/2 cents higher from 9.47 1/2-9.80 1/2 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 23-28 cents higher from 7.35-7.50 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 50 1/2 to 54 1/2 cents higher from 9.25 3/4-9.45 3/4 per bushel. Portland US Soft White wheat rail was 10 to 18 cents higher from 7.90- 8.10 1/4 per bushel. CORN: Kansas City US No 2 rail White Corn was 4 cents lower to 4 cents higher from 4.99-5.07 per bushel. Kansas City US No 2 truck Yellow Corn was 9 1/2 cents higher from 5.12 1/2-5.14 1/2 per bushel. Omaha US No 2 truck Yellow Corn was 9 to 11 cents higher at 5.02 per bushel. Chicago US No 2 Yellow Corn was 6 1/2-14 1/2 cents higher from 5.01 1/2-5.14 1/23 per bushel. Toledo US No 2 rail Yellow corn was 9 1/2 cents higher from 4.92 1/2-4.97 1/2 per bushel. Minneapolis US No 2 Yellow corn rail was 9 1/2 cents higher at 4.87 1/2 per bushel. OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was steady at 4.08 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was 25 cents lower at 6.00 per bushel. Portland US 2 Barley, unit trains and Barges-export was not available. SORGHUM: US No 2 yellow truck, Kansas City was 34 cents higher at 9.22 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 18 cents lower to 17 cents higher from 8.60-8.96 per cwt. OILSEEDS: Minneapolis Yellow truck soybeans were 14 1/2 cents higher at 14.43 1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 3 1/2 cents higher from 14.89 1/2-15.19 1/2 per bushel. Kansas City US No 2 Yellow truck soybeans were 11 1/2 cents higher at 15.14 1/2 per bushel. Central Illinois 48 percent Soybean meal, processor rail bid was 2.00-3.00 higher from 510.70-514.70 per ton. Central Illinois Crude Soybean oil processor bid was 4 points lower from 41.12-41.37 cents per pound. SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
---
STAT News Service
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.