Weekly National Grain Market Review
St. Joseph, MO Fri Apr 21, 2017 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Compared to last week, grain and soybean bids were mostly lower. This spring
it has been too wet for planting in many areas, however, may corn continues to
stay above its March low of $3.54 1/4. Brazil continues to see good growing
conditions for its second corn crop and there is more rain in the forecast which
is beneficial for its production. May soybeans persists to trade above the low
of last week�s outside reversal, however, the large supply of freshly harvested
soybeans in Brazil continues to linger over the market�s head. There is passive
support in wheat offered by commercials, but not enough to stop the downtrend.
In 2017 the winter wheat crop is off to a good start with no major problems as
of yet. Although, the U.S. dollar index is at risk of trading higher, if French
presidential candidate Marine Le Pen has a strong showing in Sunday�s election.
Weekly export sales for wheat came in at 20.3 mb (551,200 mt) with 15.2 mb
(414,000 mt) for the 2016-2017 marketing year. Export sales for corn came in at
33.4 mb (848,200 mt) with 29.8 mb (756,400) for the 2016-2017 marketing year.
Soybeans were bullish showing a total of 8.3 mb (225,000 mt) with 7.8 mb
(211,000 mt) for the 2016-2017 marketing year. Weekly export sales for grain
sorghum showed a total of 1.8 mb (46,900 mt) for the 2016-2017 marketing year.
Wheat was mostly 10 to 27 cents lower. Yellow corn was 8 to 13 cents lower.
Sorghum was 23 cents lower. Soybeans were mostly 3 to 8 cents lower.
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 24
1/2 to 27 1/2 cents lower from 3.85 3/4-4.49 3/4 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 22 to 23 cents lower from 3.86-4.13 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 11 3/4 cents higher at 6.22 per bushel. Portland US Soft
White wheat rail was 10 to 23 1/2 cents lower from 4.26 1/4-4.70 per bushel.
CORN: Kansas City US No 2 rail White Corn was 9 to 12 cents lower from 3.45-
3.52 per bushel. Kansas City US No 2 truck Yellow Corn was 13 1/4 cents lower
from 3.37 3/4-3.42 3/4 per bushel. Omaha US No 2 Yellow Corn was 8 to 13 cents
lower from 3.23-3.33 per bushel. Chicago US No 2 Yellow Corn was 13 1/4 cents
lower from 3.32 3/4-3.57 3/4 per bushel. Toledo US No 2 rail Yellow corn was 11
1/4 to 12 1/4 cents lower from 3.48 3/4-3.50 3/4 per bushel. Minneapolis US No
2 Yellow corn rail was 10 1/4 cents lower at 3.32 3/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 2 3/4 to 3 3/4 cents lower from 2.78 3/4-2.91 3/4 per bushel. US No
3 or better rail malting Barley, 70 percent or better plump out of Minneapolis
was not available. Portland US 2 Barley, unit trains and Barges-export was not
SORGHUM: US No 2 yellow truck, Kansas City was 23 cents lower at 5.50 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 23 cents lower from 5.23-5.61 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans was 2 3/4 cents lower at 9.09
3/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 8 3/4
cents lower from 9.31 3/4-9.41 3/4 per bushel. Kansas City US No 2 Yellow truck
soybeans were 1 1/4 to 3 1/4 cents higher from 9.18 3/4-9.21 3/4 per bushel.
Illinois 48 percent soybean meal, processor rail bid was 5.60 to 9.60 lower from
301.90-302.90 per ton. Central Illinois Crude Soybean oil processor bid was
0.73 points higher from 29.42-30.67 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Dakota Arthur, Market Reporter (816)676-7000
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