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USDA Grain Review: Grain Bids Higher

USDA Grain Review: Grain Bids Higher

25 March 2013

US - Compared to last week, grain and soybean bids were higher and wheat saw support from the higher grains.

However, some pressure was noted as the HRW wheat region is anticipating another storm system moving in through the weekend across the southern plains and Midwest.

Crop ratings improved for Kansas and Oklahoma, but declined for Texas. Soybeans saw sharp gains late in the week on increased demand and logistical concerns in Brazil.

Corn had weekly export sales of only 275,300 tonnes with 92,200 tonnes slatted for 2012-2013. Soybeans weekly export sales came in at 341,800 tonnes with 107,800 tonnes for 2012-2013. Wheat had weekly export sales of 573,300 tonnes with 484,500 tonnes for 2012-2013.

Wheat was mostly 1-22 cents higher with Portland 31-32 cents lower. Yellow Corn was 5-22 cents higher. Sorghum was 9-29 cents higher. Soybeans were 3-10 cents higher.

WHEAT

  • Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 7 3/4 to 22 3/4 cents higher from 8.20 1/2-8.75 1/2 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 7 cents higher at 7.59 per bushel.
  • Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 1 3/4 to 11 3/4 cents higher from 9.17 3/4-9.22 3/4 per bushel.
  • Portland US Soft White wheat rail was 31 to 32 3/4 cents lower from 8.47-8.58 3/4 per bushel.

CORN

  • Kansas City US No 2 rail White Corn was 2 to 3 cents higher from 7.55-7.61 per bushel.
  • Kansas City US No 2 truck Yellow Corn was 17 to 22 cents higher at 7.81 per bushel.
  • Omaha US No 2 truck Yellow Corn was 12 cents higher from 7.63-7.69 per bushel.
  • Chicago US No 2 Yellow Corn was 13 1/2 to 14 1/2 cents higher from 7.55-7.61 per bushel.
  • Toledo US No 2 rail Yellow corn was 12 1/2 to 13 1/2 cents higher from 7.49-7.55 per bushel.
  • Minneapolis US No 2 Yellow corn rail was 5 1/2 cents higher at 7.17 per bushel.

OATS AND BARLEY

  • US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 1 1/2 cents lower at 4.25 per bushel.
  • US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis no quote 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 28 cents higher at 12.91 per cwt.
  • Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 9 to 29 cents higher from 12.82-13.09 per cwt.

OILSEEDS

  • Minneapolis Yellow truck soybeans were 7 1/2 cents higher at 14.44 per bushel.
  • Illinois Processors US No 1 Yellow truck soybeans were 3 1/2 to 8 1/2 cents higher from 14.74-14.99 per bushel.
  • Kansas City US No 2 Yellow truck soybeans were 10 cents higher at 14.99 per bushel.
  • Central Illinois 48 percent Soybean meal, processor rail bid was 10 cents to 2.10 lower from 431.90-439.90 per ton.
  • Central Illinois Crude Soybean oil processor bid was 158 to 183 points higher from 48.92-49.92 cents per pound.

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