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USDA-SJ: Weekly National Grain Market Review

St. Joseph, MO - Fri Feb 09, 2018 - USDA-MO Dept of Ag Market News


WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, cash bids for corn were higher, wheat, soybeans, and
sorghum were mixed.  The next round of USDA WASDE reports were released Thursday and
were the main fuel for yesterday's trading.  USDA reduced its estimates of US ending
corn stocks from 2.477 billion to 2.352 billion bushels due to a boost in export
estimates, lending support to the corn market.  Despite an increase in USDA’s US
soybean ending stocks from 470 million bushels to 530 million bushels, soybeans
managed to trade higher yesterday possibly from increased concerns of dry weather in
South America.  US wheat ending stocks were also increased from 989 million to 1.009
billion bushels from a 25 million bushel decrease in export estimates.  Wheat was
mixed from 3 cents lower to 18 1/2 cents higher.  Corn was 4 to 38 cents higher.
Sorghum was mixed from 46 cents lower to 8 cents higher.  Soybeans were mixed from 11
1/4 cents lower to 2 3/4 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2 1/2
cents lower from 5.49 1/2-6.44 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 5
to 7 cents higher from 4.56-4.73 per bushel.  Minneapolis and Duluth US No 1 Dark
Northern Spring, 14.0 to 14.5 percent protein rail, was 3 3/4 cents lower to 18 1/4
cents higher from 7.13-7.40 per bushel.  Portland US Soft White wheat rail was 3
cents lower to 6 cents higher from 5.30-5.50 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was not quoted.  Kansas City US No 2
truck Yellow Corn was 4 to 9 cents higher at 3.50 3/4 per bushel.  Omaha US No 2
Yellow Corn was 3 to 4 cents higher from 3.45-3.49 per bushel.  Chicago US No 2
Yellow Corn was 21 to 38 cents higher from 3.64 3/4-3.67 3/4 per bushel.  Toledo US
No 2 rail Yellow corn was 4 to 6 cents higher from 3.56 3/4-3.62 3/4 per bushel.
Minneapolis US No 2 Yellow corn rail was not quoted.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 3/4 cent lower to 1 3/4 cents higher from 2.76 1/2-3.19 1/2 per bushel.  US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was not
quoted.  Portland US 2 Barley, unit trains and Barges-export was not quoted.

   SORGHUM:  US No 2 yellow truck, Kansas City was 46 cents lower at 5.82 per cwt.
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 6 to 8 cents higher from 6.34-6.45 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were not quoted.  Illinois Processors
US No 1 Yellow truck soybeans were 11 1/4 cents lower to 2 3/4 cents higher from 9.67
3/4-9.68 3/4 per bushel.  Kansas City US No 2 Yellow truck soybeans were 2 3/4 cents
higher from 9.52 3/4-9.57 3/4 per bushel.  Illinois 48 percent soybean meal,
processor rail bid was 13.70 to 15.70 higher from 342.70-345.70 per bushel.  Central
Illinois Crude Soybean oil processor bid was 0.69 to 0.94 points lower from 30.41-
30.96 per cwt.

Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO
        Joe Toeniskoetter, Market Reporter 816-676-7000  StJoe.LGMN@ams.usda.gov
        www.ams.usda.gov/mnreports/SJ_GR851.txt
        For more Grain Market News:
        https://www.ams.usda.gov/market-news/livestock-poultry-grain

    714C   jt

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