TheCropSite.com- news, features, articles and disease information for the crop industry

News

USDA Grain Review: Markets Mixed; Winter Wheat Improving

USDA Grain Review: Markets Mixed; Winter Wheat Improving

18 March 2013

US - Compared to last week, grain and soybean bids were mixed. The early boost in corn came from a positive USDA report last Friday and some planting delays in the south.

A stronger wheat market also helped to support the action in the corn market as wheat had better than expected export demand on noticeable buying. However, wheat saw some pressure from improved winter wheat conditions due to recent moisture.

The Kansas wheat crop improved by 3 percent at 27 pct good to excellent and Oklahoma improved by 4 percent at 20 pct good to excellent.

Soybeans saw steep declines from selling with the idea that South America has an abundant supply available. The heavy rain last week and warmer temperatures this time around helped the grass get a tint of green.

Field work and planting for the mid to upper Midwest is just around the corner as April as fast approaching.

Corn had export sales of 653,300 tonnes with 282,300 tonnes for 2012-2013. Soybeans had good export sales of 783,700 tonnes with 657,700 tonnes for 2012-2013. Wheat had bullish export sales of 1,087,000 tonnes with 888,500 tonnes for current marketing year.

Wheat was 44 cents lower to 30 cents higher. Corn was 21-26 cents higher. Sorghum was 46-49 cents higher. Soybeans were 31-48 cents lower.

WHEAT

  • Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 1 3/4 cent lower to 18 1/4 cents higher from 8.12 3/4-8.52 3/4 per bushel.
  • Kansas City US No 2 Soft Red winter rail bid no quote per bushel.
  • St. Louis truck US No 2 Soft Red Winter terminal bid was 30 cents higher at 7.52 per bushel.
  • Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 9 1/2 to 44 1/2 cents lower from 9.06-9.21 per bushel.
  • Portland US Soft White wheat rail was 27 3/4 to 29 1/4 cents higher from 8.79 3/4-8.89 3/4 per bushel.

CORN

  • Kansas City US No 2 rail White Corn was 26 cents higher from 7.53-7.64 per bushel.
  • Kansas City US No 2 truck Yellow Corn was 21 to 25 cents higher from 7.59-7.64 per bushel.
  • Omaha US No 2 truck Yellow Corn was 24 to 26 cents higher from 7.51-7.57 per bushel.
  • Chicago US No 2 Yellow Corn was 25 1/4 cents higher from 7.41 1/2-7.46 1/2 per bushel.
  • Toledo US No 2 rail Yellow corn was 23 1/4 to 25 1/4 cents higher from 7.36 1/2-7.41 1/2 per bushel.
  • Minneapolis US No 2 Yellow corn rail was 25 1/4 cents higher at 7.11 1/2 per bushel.

OATS AND BARLEY

  • US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 2 to 12 cents higher at 4.26 1/2 per bushel.
  • US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was 55 cents lower at 6.50 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 47 cents higher at 12.63 per cwt.
  • Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 46 to 49 cents higher from 12.73-12.80 per cwt.

OILSEEDS

  • Minneapolis Yellow truck soybeans were 34 cents lower at 14.36 1/2 per bushel.
  • Illinois Processors US No 1 Yellow truck soybeans were 31 to 48 cents lower from 14.70 1/2-14.90 1/2 per bushel.
  • Kansas City US No 2 Yellow truck soybeans were 38 cents lower at 14.89 per bushel.
  • Central Illinois 48 percent Soybean meal, processor rail bid was 11.10 lower from 434.00-440.00 per ton.
  • Central Illinois Crude Soybean oil processor bid was 106 points lower from 47.34-48.09 cents per pound.

TheCropSite News Desk



Our Sponsors