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USDA-SJ: Weekly National Grain Market Review

St. Joseph, MO - Fri Oct 12, 2018 - USDA-MO Dept of Ag Market News


WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, cash bids for wheat was mixed, while corn, soybeans and
sorghum were mostly higher.  Weather  played a significant factor in harvest progress
again this week; from snow in the Dakotas and Nebraska to flooding in the Missouri
and Texas while hurricane Michael wreaked havoc in the Southeast. As reported on
Monday, corn was 34 precent harvested; 8 points above the previous 5-year average.
Soybeans were 32 percent harvested; 4 percent below the 5-year average.  On
Thursday's WASDE report, USDA projected the soybean production at 4.69 billion
bushels (bb), while corn production was estimated at 14.78 bb. USDA said last week's
export sales and shipments of corn totaled 39.6 million bushels (mb) and 63.2 mb
respectively, while last week's sales and shipments of soybeans totaled 16.2 mb and
32.5 mb respectively.  Corn's total shipment are up 67 percent from a year ago and
soybeans' total shipment is down 25 percent from a year ago.  Last week's export
sales and shipments of wheat totaled 12.5 mb and 18.4 mb respectively, with total
shipments fown 28 percent from a year ago.  Wheat was from 10 cents lower to 11 1/2
cents higher.  Corn was from 1/4 cent lower to 29 3/4 cents higher.  Sorghum was 2 to
4 cents higher.  Soybeans were 16 cents lower to 7 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 11 1/2
cents higher from 5.98 3/4-6.13 3/4 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 10
cents lower from 4.69-5.08 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 1/4 cent lower from 6.69 1/2-6.94 1/2
per bushel.  Portland US Soft White wheat rail was steady to 1 cent higher from 6.00-
6.18 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was not quoted.  Kansas City US No 2
truck Yellow Corn was 26 3/4 to 29 3/4 cents higher at 3.46 1/4 per bushel.  Omaha US
No 2 Yellow Corn was 6 to 8 cents higher from 3.24-3.29 per bushel.  Chicago US No 2
Yellow Corn was 1/4 cent lower to 1 3/4 cents higher from 3.09 1/4-3.19 1/4 per
bushel.  Toledo US No 2 rail Yellow corn was 6 3/4 cents higher from 3.37 1/4-3.39
1/4 per bushel.  Minneapolis US No 2 Yellow corn rail was 6 3/4 cents higher at 3.17
1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 1 1/2 to 11 1/2 cents lower from 2.80 1/2-3.51 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 3 cents higher at 5.52 per cwt.
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 2 to 4 cents higher from 6.30-6.68 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 7 cents higher at 7.71 1/4 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 4 to 5 cents higher
from 8.06 1/4-8.18 1/4 per bushel.  Kansas City US No 2 Yellow truck soybeans were 16
cents lower at 8.23 1/4 per bushel.  Illinois 48 percent soybean meal, processor rail
bid was 4.60 higher from 321.80-323.80 per bushel.  Central Illinois Crude Soybean
oil processor bid was 0.59 points lower from 28.52-29.27 per cwt.

Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO
        Lonnie Peetz, 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

    840C   lp

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