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USDA Grain Market Review - Corn, Soy Higher; Wheat Mixed

USDA Grain Market Review - Corn, Soy Higher; Wheat Mixed

18 January 2014

US - Compared to last week, grain and soybean bids were higher, with wheat trading mixed.

Soybeans posted modest gains on good demand and slow producer selling, along with higher than expected soybean crush. Soybean crush came in at 165.4 million bushels, up 5.3 million bushels from last month.

Corn continued to see momentum from the positive USDA report last Friday. However, plentiful supplies and lower basis limited the gains. Wheat found some support with sales to Egypt and the thought that demand will pick-up.

Weekly export sales for corn totaled 821,000 tonnes all for 2013-2014 marketing year. Soybeans had export sales of 1,226,800 tonnes with 701,500 tonnes for 2013-2014 marketing year. Wheat had export sales of 401,900 tonnes with 319,900 tonnes for 2013-2014 marketing year.

WHEAT

  • Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 9 1/2 to 39 1/2 cents lower from 7.34 1/2-7.64 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 10 cents lower at 6.04 per bushel.
  • Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 4 3/4 to 24 3/4 cents higher from 10.24-10.49 per bushel.
  • Portland US Soft White wheat rail was 6 1/2 cents lower to 3 1/2 cents higher from 6.72 3/4-6.87 3/4 per bushel.

CORN

  • Kansas City US No 2 rail White Corn was 15 to 17 cents higher from 4.76-4.80 per bushel.
  • Kansas City US No 2 truck Yellow Corn was 11 to 13 cents higher from 4.33-4.35 per bushel.
  • Omaha US No 2 truck Yellow Corn was 10 to 12 cents higher from 4.14-4.21 per bushel.
  • Chicago US No 2 Yellow Corn was 18 to 31 cents higher from 4.13-4.32 per bushel.
  • Toledo US No 2 rail Yellow corn was 17 to 18 cents higher from 4.13-4.15 per bushel.
  • Minneapolis US No 2 Yellow corn rail was 16 cents higher at 4.09 per bushel.

OATS AND BARLEY

  • US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 6 cents higher at 4.34 3/4 per bushel.
  • US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was 10 cents lower at 5.70 per bushel.
  • Portland US 2 Barley, unit trains and Barges-export was not available.

SORGHUM

  • US No 2 yellow truck, Kansas City was 37 cents higher at 7.64 per cwt.
  • Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 29 to 31 cents higher from 7.38-7.65 per cwt.

OILSEEDS

  • Minneapolis Yellow truck soybeans were 41 1/4 cents higher at 12.77 per bushel.
  • Illinois Processors US No 1 Yellow truck soybeans were 36 1/4 to 46 1/4 cents higher from 13.25-13.45 per bushel.
  • Kansas City US No 2 Yellow truck soybeans were 29 1/4 cents higher at 13.33 per bushel.
  • Central Illinois 48 percent Soybean meal, processor rail bid was 15.70 to 17.70 higher from 487.00-493.00 per ton.
  • Central Illinois Crude Soybean oil processor bid was 16 to 66 points lower from 34.80-35.05 cents per pound. 

For more USDA grain and livestock market news, click here

TheCropSite News Desk



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