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USDA-SJ: Daily National Grain Market Summary

St. Joseph, MO - Thu, Nov 09, 2017 - USDA-MO Dept of Ag Market News

   Daily National Grain Market Summary
   Compared to yesterday, cash bids for corn, soybeans and sorghum were lower,
wheat was higher.  The next round of WASDE reports were released today giving
traders an updated look at yield and crop estimates.  Corn crop projections
were increased to a higher than expected 14.578 billion bushels with US
ending stocks increasing from 2.340 to 2.487 billion bushels. Bearish
projections for the corn market which closed 6 3/4 cents lower for the
December contract.  Soybean US ending stocks were decreased from a previously
estimated 430 million bushels to 425 million bushels and crop estimates were
decreased slightly to 4.425 billion bushels.  Fairly neutral estimates for
the soybean market.  The wheat market did gain some support today from a
decrease in US ending stocks from 960 million bushels to 935 million bushels,
influenced by an increase in wheat export estimates.  Last week's export
sales totaled 93.1 million bushels of corn, 42.6 million bushels of soybeans
and 28.7 million bushels of wheat, bearish figures for all three commodities.
Wheat was mostly 1 to 3 cents higher.  Corn was mostly 5 to 6 cents lower.
Soybeans were mostly 12 to 13 cents lower.  Sorghum was 12 cents lower.

                             DATE               CHANGE                 YEAR AGO
TRUCK BIDS:                  11/9/2017         11/8/2017              11/10/2016

Wheat:
   Kansas City (HRW ORD)     3.7900            UP 1.50               3.2375-3.2800
   Minneapolis               6.5800            UP 4.50                  5.1575
   Portland (SWW)            5.2500-5.3500     UP 3.25-UNCH          4.6500-4.6900
   St. Louis (SRW)           4.3600-4.4400     UNCH-UP 3.00             4.0600

Corn, US No 2 Yellow:
   Kansas City               3.0450-3.0950     DN 6.75                  3.1350
   Minneapolis               n/a               No Comp                  3.1350
   So. Iowa                  3.0750-3.1250     DN 3.75-DN 5.75           n/a
   Omaha                     3.0200-3.0500     DN 6.00               2.9400-2.9800

Soybeans, US No 1 Yellow:
   Kansas City               9.2500            DN 13.50                 9.4800
   Minneapolis               n/a               No Comp                  9.4500
   So. Iowa                  9.4000-9.4700     DN 13.50                  n/a
   Cent. Il Processor        9.6000-9.7300     DN 8.50-DN 10.50      9.8300-9.8800

FUTURES:
   Kansas City Wheat  (Dec)  4.2900            UP 1.50                  4.0875
   Minneapolis Wheat  (Dec)  6.4800            UP 4.50                  5.1500
   Chicago Wheat      (Dec)  4.2900            UP 2.25                  4.0475
   Chicago Corn       (Dec)  3.4150            DN 6.75                  3.4350
   Chicago Soybeans   (Jan)  9.8500            DN 13.50                 9.9800

*EXPORT BIDS:  Barge bids out of the Port of New Orleans,
or Rail out of the North Texas Gulf. Bids Per bushel, except sorghum per cwt.

US 1 HRW Wheat Ord Protein:
                             4.8900-5.0400     UP 1.50               3.9875-4.1875
US 2 Soft Red Winter Wheat
                             4.8300-4.8400     UP 2.25               4.4975-4.5475
Corn
  Barge                      3.7350-3.7750     DN 6.75               3.8550-3.8950
US 2 Sorghum
  Rail                       7.4375-7.7050     DN 12.00              6.5800-6.8475
  Barge                      n/a                                         n/a
US 2 Yellow Soybeans
  Barge                      9.9025-10.0625    DN 12.75-DN 7.75      10.1300-10.2500

SOURCE:  USDA- MO Dept OF Ag Market News Service, St. Joseph, MO
   Joe Toeniskoetter , Market Reporter (816)676-7000
         www.ams.usda.gov/LSMarketNews
               15:05C  jmt

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