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USDA - AMS: Weekly National Grain Market Review (2019-05-31)

USDA U.S. Department of Agriculture - May 31, 2019

SJ_GR851
St. Joseph, MO    Fri May 31, 2019   USDA-MO Dept of Ag Market News

WEEKLY NATIONAL GRAIN MARKET REVIEW

  Compared to last week, cash bids for wheat were mostly higher; corn, sorghum and
soybeans were sharply higher.   Ethanol production for week ending May 24th totaled
1.057 million barrels per day, a 14,000 barrel decrease when compared to the week
prior.  Ethanol stocks were at 22.62 mb  this week, a decrease of 0.78 mb.  Monday's
planting progress report for w/e 5/26/2019 revealed that planting pace for corn is
now 32 percent behind a year ago and the the 5 year average.  Notable states and
their progress behind the 5 year average; Illinois-60 pct, Indiana-63 pct, Ohio-56
pct, Iowa-20 pct and Nebraska-13 pct.  Torrential Weather Events in the Midwest has
been seen on numerous news stories nationwide this week.  Outbreaks of over 500
tornoadoes nationwide in the month of May have been noted.  Floding in the Missouri,
Illinois and Mississippt River Basins will no doubt affect farmland throughout this
growing season.  Soybean acres planted are 45 percent behind a year ago and 37
percent behind the 5 year average.

White Winter Wheat was steady while Hard Red, Soft Red Dark Northern Spring Wheat
were 24 1/4 to 58 3/4 cents higher.  Corn was 26 1/2 to 50 1/2 cents higher.  Sorghum
was 82 cents to 83 cents higher.  Soybeans were 62 1/2 to 77 1/2 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 58 3/4
cents higher from 5.94-6.04 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 44 cents
higher from 5.47-5.52 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 24 1/4 cents higher at 6.48 1/2 per
bushel.  Portland US Soft White wheat rail was steady from 5.75-6.05 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 26 1/2 to 37 3/4 cents higher from
4.24 1/2-4.47 3/4 per bushel.  Kansas City US No 2 truck Yellow Corn was 46 1/2 cents
higher from 4.26 1/4-4.36 1/4 per bushel.  Omaha US No 2 Yellow Corn was 43 to 44
cents higher from 4.18-4.19 per bushel.  Chicago US No 2 Yellow Corn was 46 1/2 to 50
1/2 cents higher from 4.33 1/4-4.38 1/4 per bushel.  Toledo US No 2 rail Yellow corn
was 45 1/2 to 48 1/2 cents higher from 4.28 1/4-4.31 1/4 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 8 1/2 to 78 1/2 cents higher at 3.63 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 83 cents higher from 7.25-7.34 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 82 to 83 cents higher from 7.07-7.87 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 67 1/2 cents higher at 8.31 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 62 1/2 to 66 1/2
cents higher from 8.58-8.60 per bushel.  Kansas City US No 2 Yellow truck soybeans
were 67 1/2 to 77 1/2 cents higher from 8.49-8.59 per bushel.  Illinois 48 percent
soybean meal, processor rail bid was 32.20 to 33.20 higher from 325.40-327.40 per
bushel.  Central Illinois Crude Soybean oil processor bid was 1.00 higher from 28.18-
28.38 per cwt.

Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO
        Lonnie Peetz, Market Reporter 816-676-7000  StJoe.LPGMN@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

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