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USDA Grain Market Review: Corn, Wheat Up; Soybeans Sharply Lower

USDA Grain Market Review: Corn, Wheat Up; Soybeans Sharply Lower

25 January 2014

US - Compared to last week, grain and soybean bids were mixed.

Soybeans saw modest losses on selling, with fears of export cancellations from China and South America’s crop also looking large.

Wheat and corn saw some support from a lower dollar index and concerns of winter wheat kill in the plains due to extreme cold temperatures that plague most of the nation.

Wheat was 1.06 lower to 7 cents higher. Corn was mostly 1-4 cents higher. Sorghum was 1-11 cents higher. Soybeans were 30-41 cents lower.

WHEAT:

  • Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2 3/4 to 7 3/4 cents higher from 7.37 1/4-7.72 1/4 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 2 cents lower at 6.02 per bushel.
  • Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 1.06 3/4 to 1.31 3/4 lower at 9.17 1/4 per bushel.
  • Portland US Soft White wheat rail was 2 1/4 cents higher from 6.75-6.90 per bushel.

CORN:

  • Kansas City US No 2 rail White Corn was steady to 1 cent higher from 4.76-4.81 per bushel.
  • Kansas City US No 2 truck Yellow Corn was 1 cent higher from 4.34-4.36 per bushel.
  • Omaha US No 2 truck Yellow Corn was 1 cent higher from 4.15-4.22 per bushel.
  • Chicago US No 2 Yellow Corn was 1 to 4 cents higher from 4.14-4.36 per bushel.
  • Toledo US No 2 rail Yellow corn was 1 to 3 cents higher from 4.14-4.18 per bushel.
  • Minneapolis US No 2 Yellow corn rail was 3 cents higher at 4.12 per bushel.

OATS AND BARLEY:

  • US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 10 1/2 cents lower at 4.24 1/4 per bushel.
  • US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was steady 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 11 cents higher at 7.75 per cwt.
  • Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 1 cent higher from 7.39-7.66 per cwt.

OILSEEDS:

  • Minneapolis Yellow truck soybeans were 30 cents lower at 12.47 per bushel.
  • Illinois Processors US No 1 Yellow truck soybeans were 40 to 43 cents lower from 12.85-13.02 per bushel.
  • Kansas City US No 2 Yellow truck soybeans were 38 to 41 cents lower from 12.92-12.95 per bushel.
  • Central Illinois 48 percent Soybean meal, processor rail bid was 13.30 lower from 473.70-479.70 per ton.
  • Central Illinois Crude Soybean oil processor bid was 19 points lower from 34.61-34.86 cents per pound.

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