ST. JOSEPH - Aug 22/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 22.
WEEKLY NATIONAL GRAIN MARKET REVIEW Compared to last week, Corn and wheat closed with modest gains with soybeans having good gains. Corn and soybean crops are still seeing pleasant to ideal weather conditions across the Corn Belt as Augusts weather has seen good growing conditions that have weighed in on the markets. Corn and soybeans traders are still aware of bearish fundamental situations as the forthcoming U.S. crop looks to set records with ending stocks expected to increase significantly as yield estimates continue to improve. The Pro-Farmer Tour was this week and pretty much confirmed a record crop for corn and soybeans. Soybeans are receiving a boost this week as basis has improved for cash soybeans, along with soybean meal basis as soybean meal supplies are low. Weekly export sales for corn totaled 32.4 mb with 3.9 mb for 2013-2014 marketing year. Soybeans had weekly export sales of 48.9 mb with a reduction of 3.3 mb for the 2013-2014 marketing year. Wheat had weekly export sales of 7.7 mb for the 2014-2015 marketing year. Wheat closed the week mostly 14-25 cents higher. Corn traded 2-14 cents higher, with sorghum 8-24 cents lower. Soybeans closed 26-42 cents higher. WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 13-30 cents higher from 7.12-7.48 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 9 cents higher from 4.98-5.16 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 25- 40 cents higher 7.85 3/4-8.45 3/4 per bushel. Portland US Soft White wheat rail was 9-10 cents higher from 6.86 1/4-7.00 per bushel. CORN: Kansas City US No 2 rail White Corn had no bid this week. Kansas City US No 2 truck Yellow Corn was 8 1/4 cents higher at 3.77 1/4 per bushel. Omaha US No 2 truck Yellow Corn was 2-8 cents higher from 3.55-3.62 per bushel. Chicago US No 2 Yellow Corn was 1/4-15 1/4 cents higher from 3.54 1/4-3.97 1/4 per bushel. Toledo US No 2 rail Yellow corn was 1/4-3 1/4 cents higher from 3.54 1/4-3.59 1/4 per bushel. Minneapolis US No 2 Yellow corn rail was 1/4 cents higher at 3.31 1/4 per bushel. OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 10 cents higher at 3.88 1/4 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was .40 cents lower at 5.50 per bushel. Portland US 2 Barley, unit trains and Barges-export was not available. SORGHUM: US No 2 yellow truck, Kansas City was 8 cents lower at 5.88 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 17 to 24 cents lower from 5.96-6.20 per cwt. OILSEEDS: Minneapolis Yellow truck soybeans were 16 3/4 cents lower at 10.15 1/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 26 1/4- 42 1/4 cents higher from 12.88 1/4-13.58 1/4 per bushel. Kansas City US No 2 Yellow truck soybeans were 27 1/4 cents higher at 12.83 1/4 per bushel. Central Illinois 48 percent Soybean meal, processor rail bid was 78.40-106.40 higher from 521.80-563.80 per ton. Central Illinois Crude Soybean oil processor bid 48 points lower from 33.53-35.03 cents per pound. SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
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STAT News Service
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