ST. JOSEPH - Mar 13/15 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Mar 13.
WEEKLY NATIONAL GRAIN MARKET REVIEW Compared to last week, grain and soybean bids were mixed. Corn saw some pressure from the higher U.S. dollar. However, good demand is also boosting prices. Wheat saw support from the USDA report and weather concerns in some areas of the winter wheat areas as the crop is coming out of dormancy. The higher outside markets also lend support to the grains. Field work is finally emerging in some areas of the corn-belt as temperatures have warmed up in the last week. Harvest in South America continues due to favorable weather. Brazils harvest was at 41 percent complete with record yields reported. The USDA released the monthly supply and demand report listing corn 1.78 billion bushels, which was less than was expected. Global ending stocks were lower than expected at 185.28 mmt. Soybean estimates were unchanged in March, at 385 million bushels. World ending stocks increased more than expected at 89.53 mmt. Wheat ending stocks came in at 691 million bushels with world ending stocks at 197.71 mmt. Weekly export sales for corn totaled 20.3 mb (514,400 mt), with 16.5 mb (418,000 mt) for the 2014-2015 marketing year. Export sales for soybeans were listed at 7.3 mb (198,700 mt) with 6.2 mb (167,900 mt) for the 2014-2015 marketing year. Wheat exports came in at 18.1 mb (493,200 mt), with 16.4 mb (445,200 mt) for the 2014-2015 marketing year. Wheat was mostly 4-35 cents higher. Corn was 2 cents lower to 9 cents higher. Sorghum was 3-4 cents lower. Soybeans were 5-10 cents higher. WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 35 cents higher from 6.41 1/2-6.51 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 27 cents higher from 5.07-5.12 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 24 to 84 3/4 cents lower from 7.19 1/2-7.94 1/2 per bushel. Portland US Soft White wheat rail was 4 1/2 to 21 3/4 cents higher from 6.25-6.47 1/4 per bushel. CORN: Kansas City US No 2 rail White Corn was 8 to 9 cents higher from 3.96- 4.02 per bushel. Kansas City US No 2 truck Yellow Corn was 1 to 5 cents higher at 3.86 1/2 per bushel. Omaha corn was steady to 1 cent lower at 3.83 per bushel. Chicago US No 2 Yellow Corn was steady to 2 cents lower from 3.72 1/2- 3.87 1/2 per bushel. Toledo US No 2 rail Yellow corn was 5 to 7 cents higher 3.75 1/2-3.84 1/2 per bushel. Minneapolis US No 2 Yellow corn rail was 2 cents lower at 3.59 1/2 per bushel. OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 5 1/4 cents lower from 2.96 1/4-3.36 1/4 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 4 cents lower at 8.22 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 3 to 4 cents lower from 7.20-7.22 per bushel. OILSEEDS: Minneapolis Yellow truck soybeans were 5 cents higher at 9.53 1/2 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 5 to 6 cents higher from 9.93 1/2-10.05 1/2 per bushel. Kansas City US No 2 Yellow truck soybeans were 5 to 10 cents higher from 9.95 1/2 to 10.00 1/2 per bushel. Illinois 48 percent Soybean meal, processor rail bid was 60 cents lower to 1.40 higher from 359.60-366.60 per ton. Central Illinois Crude Soybean oil processor bid was 45 to 70 points lower from 30.12-31.37 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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