USDA National Grain Review

ST. JOSEPH - Jun 13/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jun 13.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids traded lower.  Soybeans saw
sharp losses on selling pressure as tight old crop supplies seem to be easing.
Corn had slight to modest losses as the crop is off to a good start with
favorable weather.  News of China no longer allowing U.S. distiller dried grain
imports weighed in the corn market.  More Heavy rain in parts of the Midwest was
reported this week, along with cooler temperatures.  Early corn progress shows
92 percent emerged and 75 percent rated good to excellent.  Wheat saw declines
as the market seems to be more focused on global conditions which are in good
shape.  USDA kept estimates for domestic corn the same at 13.935 billion bushel
with ending stocks at 1.726 billion bushels.  Soybean production had ending
stocks at 125 million bushels down from 130 million bushels.  USDA increased
wheat ending stocks from 540 million bushels to 574 million bushels.  Weekly
export sales for corn totaled 20.3 mb (575,200 mt) with 16.1 mb (409,700 mt) for
2013-2014 marketing year.  Soybeans had weekly export sales of 18 mb (490,000
mt) with 3.2 mb (86,700 mt) for 2013-2014 marketing year.  Wheat had export
sales of 20.9 mb (570,100 mt) for 2014-2015 marketing year.  Wheat was mostly
10-38 cents lower.  Corn was mostly steady to 9 cents lower.  Sorghum was 9
cents lower.  Soybeans were 40-51 cents lower.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 16
1/2 cents higher from 8.15 1/2-8.25 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 16 to 20 cents lower from 5.92-5.95 per bushel.  Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
23 1/2 to 38 1/2 cents lower from 8.22-8.62 per bushel.  Portland US Soft White
wheat rail was 10 to 20 1/2 cents lower from 6.75 1/4-7.15 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 9 to 13 cents lower from 4.35-
4.40 per bushel.  Kansas City US No 2 truck Yellow Corn was 4 to 6 cents lower
from 4.52-4.53 per bushel.  Omaha US No 2 truck Yellow Corn was 1cent lower to 7
cents higher from 4.45-4.56 per bushel.  Chicago US No 2 Yellow Corn was 5 cents
lower from 4.32-4.59 per bushel.  Toledo US No 2 rail Yellow corn was 4 to 5
cents lower from 4.27-4.31 per bushel.  Minneapolis US No 2 Yellow corn rail was
steady at 4.29 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 11 3/4 to 31 3/4 cents lower from 3.74 1/2-3.94 1/2 per bushel.  US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was
20 cents lower at 5.65 per bushel.  Portland US 2 Barley, unit trains and
Barges-export was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 9 cents lower at 7.93 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 9 cents lower from 7.66-7.68 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 51 1/4 cents lower at 13.92
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 51 cents
lower from 14.25 1/4-14.55 1/4 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 40 cents lower at 14.40 1/4 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 21.40 to 23.40 lower from 496.20-
501.20 per ton.  Central Illinois Crude Soybean oil processor bid was 14 to 39
points lower from 38.83-39.08 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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