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USDA - AMS: Weekly National Grain Market Review (2020-05-15)

USDA U.S. Department of Agriculture - May 15, 2020

SJ_GR851
St. Joseph, MO    Fri May 15, 2020   USDA-MO Dept of Ag Market News

WEEKLY NATIONAL GRAIN MARKET REVIEW

"  Compared to last week, cash bids for corn, sorghum and wheat are mixed; soybeans
are lower.

 For the week ending May 7, 2020, an increase of 42.2 million bushels of corn export
sales for 2019-20 were reported while an increase of 24.1 million bushels of soybean
exports sales for 2019-20 were formulated.  Wheat export sales showed an increase of
7.5 million bushels for 2019-20 were reported. Sorghum export sales showed net
cancellations of 0.6 million bushels for 2019-20.

 Ethanol production for the week ending May 8, 2020 reported an increase of 19,000
barrels per day to 0.617 million barrels a day. Ethanol stocks decreased 1.4 million
barrels at 21.2 million barrels.

 For the week ending May 10, 2020, corn planted is at 67 percent which is 39 percent
higher than a year ago. Soybeans planted is at 38 percent which is 30 percent higher
than a year ago. Sorghum is at 28 percent which is 5 percent higher than a year ago.

 Corn crop production for 2019 decreased by 29.0 million bushels to 13.663 billion
bushels. 2020 corn production is estimated at 15.996 billion bushels. 2020-21 corn
ending stock is estimated at 3.318 billion bushels. 2020-21 planted corn acres is at
97 million acres with average yield 178.5 bushels per acre.

 Wheat was 19 cents lower to 37 cents higher.  Corn was 1 1/4 cents lower to 4 1/2
cents higher.  Sorghum was 55 cents lower to 53 cents higher.  Soybeans were 6 1/4 to
10 1/4 cents lower."

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 13
cents lower from 5.36 3/4-5.46 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 19
cents lower at 5.25 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring,
14.0 to 14.5 percent protein rail, was 37 cents higher at 6.33 per bushel.  Portland
US Soft White wheat rail was steady to 7 cents higher from 6.00-6.15 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 1 1/4 cents lower to 1 1/2 cents
higher from 3.15 1/2-3.19 1/4 per bushel.  Kansas City US No 2 truck Yellow Corn was
1 1/2 to 4 1/2 cents higher from 3.20 1/2-3.22 1/2 per bushel.  Omaha US No 2 Yellow
Corn was steady to 4 cents higher from 2.93-3.05 per bushel.  Chicago US No 2 Yellow
Corn was 1/2 cent lower from 3.09 1/2-3.12 1/2 per bushel.  Toledo US No 2 rail
Yellow corn was 1/2 cent lower to 4 1/2 cents higher from 2.98 1/2-3.05 1/2 per
bushel.  Minneapolis US No 2 Yellow corn rail was 1/2 cent higher at 2.97 1/2 per
bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 6 1/4 cents higher from 3.05-3.75 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 53 cents higher from 5.67-6.21 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 55 cents lower to 1 cent higher from 5.14-5.84 per cwt.
   OILSEEDS:  Minneapolis Yellow truck soybeans were 6 1/4 cents lower at 8.24 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 7 1/4 to 10 1/4 cents
lower from 8.34-8.50 per bushel.  Kansas City US No 2 Yellow truck soybeans were 7
1/4 cents lower from 8.12-8.42 per bushel.  Illinois 48 percent soybean meal,
processor rail bid was 0.10points higher from 288.20-291.20 per bushel.  Central
Illinois Crude Soybean oil processor bid was 0.38 points lower to 0.22 points higher
from 24.68-24.88 per cwt.

Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO
        John Ervin, 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

    824C   je

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