USDA National Grain Review

ST. JOSEPH - Oct 24/14 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Oct 24.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, grain and soybean bids closed higher.  Corn and
soybean bids found support from slower harvest due to rain delays in some areas
of the corn-belt.  However, the extended forecast looks favorable for progress.
Soybeans saw additional support from dry weather concerns in Brazil.  The USDA
progress report listed corn at 31 percent harvested with the 5 year average at
53 percent.  Soybean harvest is 53 percent completed with the 5 year average of
66 percent early in the week.  Weekly export sales of corn were neutral totaling
40.6 mb (1,031,200 mt), all for the 2014-2015 marketing year.  Soybean weekly
exports were bullish coming in at 79.7 mb (2,170,100 mt) with 79.6 mb (2,166,800
mt) for the 2014-2015 marketing year.  Weekly export sales for wheat were
bearish coming in at 11 mb (299,400 mt), all for the 2014-2015 marketing year.
Wheat was 9-24 cents higher.  Corn was 6-17 cents higher.  Sorghum was 14-49
cents higher.  Soybeans were mostly 22-26 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
1/4 cent higher from 7.40 1/4-7.60 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 9 cents higher from 4.01-4.86 per bushel.  Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 19
1/2 to 24 1/2 cents higher from 7.96-8.21 per bushel.  Portland US Soft White
wheat rail was 16 3/4 to 19 3/4 cents higher from 6.81 3/4-7.16 3/4 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 6 to 7 cents higher from 3.51-
3.60 per bushel.  Kansas City US No 2 truck Yellow Corn was 7 1/2 cents higher
at 3.09 3/4 per bushel.  Omaha US No 2 truck Yellow Corn was 13 to 14 cents
higher from 3.20-3.25 per bushel.  Chicago US No 2 Yellow Corn was 7 1/2 cents
higher from 3.21 3/4-3.62 3/4 per bushel.  Toledo US No 2 rail Yellow corn was 7
1/2 cents higher from 3.31 3/4-3.45 3/4 per bushel.  Minneapolis US No 2 Yellow
corn rail was 17 1/2 cents higher at 3.09 3/4 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 1/2 to 43 1/2 cents higher from 3.54 1/2-4.10 1/2 per bushel.  US
No 3 or better rail malting Barley, 70 percent or better plump out of
Minneapolis was steady at 7.35 per bushel.  Portland US 2 Barley, unit trains
and Barges-export was not available.
   SORGHUM:  US No 2 yellow truck, Kansas City was 4932 cents higher at 6.07 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 14 cents higher from 6.16-6.34 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 23 3/4 cents higher at 9.63
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 22 3/4
to 26 3/4 cents higher from 9.84 1/4-10.03 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 3 1/4 to 8 1/4 cents lower from 9.48 1/4-9.53 1/4 per
bushel.  Illinois 48 percent Soybean meal, processor rail bid was 23.80 to 32.80
higher from 390.40-412.40 per ton.  Central Illinois Crude Soybean oil processor
bid was 6 to 31 points higher from 32.67-34.67 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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