USDA National Grain Review

ST. JOSEPH - Jan 15/16 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jan 15.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Compared to last week, corn and soybeans closed higher with wheat trading
lower.  This week USDA released its WASDE Grain Report showing a “Big Crop” got
a little bit smaller.  Corn’s average yield was lowered by 0.9 bpa to 168.4 bpa
with corn production for 2105/16 53 mb lower but remains the 3rd largest corn
crop on record at 13.6 bb.  Ending corn stocks were estimated 17 mb higher at
1.8bb  for 2015/16 than the December forecast at 1.785 bb.  Soybean production
was estimated at 3.930 mb, 51 mb lower on lower harvested acres and yields with
81.8 million acres and 0.6 bpa lower at 48.0 bpa.  Ending stocks for soybeans
came in at 440 mb, down 25 mb from last month.  USDA’s winter Seedings Report
estimated winter wheat at 36.61 million acres for 2015/216, down 7 percent from
last year.  Wheat saw increases in ending stocks from 911 mb to 944 mb for
2015/16 with reduction in feed use.  Wheat was mostly 4-12 cents lower.  Corn
traded mostly 4-7 cents higher with sorghum mixed 9 cents higher to 9 cents
lower.  Soybeans were 13-17 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
4 1/4-5 1/4 cents lower from 5.28 1/2-5.58 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 12-23 cents higher from 4.20-4.43 per bushel.
Mnneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 12 1/4 cents lower from 5.87 1/2-6.17 1/2 per bushel.
Portland US Soft White wheat rail was 5.28 3/4-5.30 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 6-7 cents higher from 3.81-
3.85 per bushel.  Kansas City US No 2 truck Yellow Corn was 5 cents higher from
3.61-3.63 per bushel.  Omaha US No 2 Yellow Corn was 4-5 cents higher from 3.46-
3.54 per bushel.  Chicago US No 2 Yellow Corn was 5-6 cents higher from 3.47-
3.76 per bushel.  Toledo US No 2 rail Yellow corn was 5 cents higher from 3.65-
3.67 per bushel.  Minneapolis US No 2 Yellow corn rail was 5 cents higher at
3.14 per bushel.
   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 8 cents lower at 2.55 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 9 cents lower at 6.21 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 9 cents higher from 5.41-5.59 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 12 3/4 cents higher at 8.42
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 17 3/4
cents higher from 8.82 1/4-8.97 1/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 13-17 3/4 cents higher at 8.82 1/4 per bushel.  Illinois 48
percent Soybean meal, processor rail bid was 6.80 higher from 282.20-284.20 per
ton.  Central Illinois Crude Soybean oil processor bid was 13 points higher from
28.00-29.25 cents per
pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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