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USDA: Weekly National Grain Market Review

18 February 2012

US - Compared to last week, grain bids were mostly lower with soybeans trading moderately higher.

Soybeans saw support most of the week from good export demand and concerns of lower than expected production in South America. The higher outside markets also lend support to grains. However, corn ended lower on lack of buying interest and lack of any fresh news. Wheat followed the lower corn.

Corn had weekly export sales above expectations totaling 1.067,400 tonnes. Soybeans had total export sales above expectations totaling 612,300 tonnes. Wheat had weekly export sales coming in line at 427,900 tonnes.

Wheat was mostly 9-15 cents lower. Yellow Corn was 2 cents lower to 2 cents higher. Sorghum was mostly 1 to 2 cents lower. Soybeans were 26-35 cents higher.

Wheat

Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 9 to 12 cents lower from 7.25-7.73 per bushel. Kansas City US No 2 Soft Red Winter rail bid was 9 cents lower from 6.58-7.38 per bushel.

St. Louis truck US No 2 Soft Red Winter terminal bid was 15 cents lower at 6.49 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, has no comparison from 9.37 3/4-9.82 3/4 per bushel. Portland US Soft White wheat rail was steady to 3 cents higher from 7.00-7.18 per bushel.

Corn

Kansas City US No 2 rail White Corn was 5 to 6 cents lower from 7.73- 7.84 per bushel. Kansas City US No 2 truck Yellow Corn was 1 to 2 cents lower from 6.51-6.56 per bushel. Omaha US No 2 truck Yellow Corn was 1 to 2 cents higher from 6.44-6.46 per bushel.

Chicago US No 2 Yellow Corn was 3/4 cents lower from 6.21 1/4-6.46 1/4 per bushel. Toledo US No 2 rail Yellow corn was 3/4 cent lower to 1 1/4 cent higher from 6.46 1/4-6.49 1/4 per bushel. Minneapolis US No 2 Yellow corn rail no bid per bushel.

Oats and Barley

US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 5 3/4 cents higher from 3.38 3/4-3.58 3/4 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents higher at 7.10 per bushel. Portland US 2 Barley, unit trains and Barges-export was not available per cwt.

Sorghum

US No 2 yellow truck, Kansas City was 2 cents lower at 11.27 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 1 cent lower to 1 cent higher from 10.83-11.45 per cwt.

Oilseeds

Minneapolis Yellow truck soybeans no bid per bushel. Illinois Processors US No 1 Yellow truck soybeans were 31 3/4 to 35 3/4 cents higher from 12.62 1/4-12.73 1/4 per bushel. Kansas City US No 2 Yellow truck soybeans were 26 cents higher at 12.66 per bushel.

Central Illinois 48 percent Soybean meal, processor rail bid was 8.80 to 9.80 higher from 324.80-335.80 per ton. Central Illinois Crude Soybean oil processor bid was 41 to 76 points higher from 51.80-52.80 cents per pound.

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