Weekly National Grain Market Review
SJ_GR851
St. Joseph, MO    Fri Jul 12, 2019   USDA-MO Dept of Ag Market News

WEEKLY NATIONAL GRAIN MARKET REVIEW

  Compared to last week, cash bids for wheat was mostly higher, with Dark Northern
Spring Wheat lower; corn was mixed and sorghum and soybeans were higher.  Ethanol
production for week ending July 5th totaled 1.047 million barrels per day, a 34,000
barrel decrease when compared to the week prior.  Ethanol stocks were at 23 mb  this
week, an increase of .165 mb.  Monday's crop condition report showed corn at 57
percent good to excellent which would be 18 percent less than a year ago this time.
Soybean acres planted are now at 96 percent complete; a 4 percent increase from the
previous week.

Futures traded on both sides of steady after the WASDE report release on Thursday.
Yield estimate on corn was unchanged from last month's report at 166 bpa, leading to
a larger than expected new crop stock number.  With the later than normal planting in
soybeans, there was a 1 bpa decrease to bring the estimated bpa to 48.5.

Wheat was 18 3/4 cents lower to 17 1/2 cents higher.  Corn was 5 1/2 cents lower to
15 1/2 cents higher.  Sorghum was 12 cents to 32 cents higher.  Soybeans were 9 1/4
cents to 20 1/4 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 17 1/2
cents higher from 5.53 1/4-5.63 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 8
cents higher from 5.19-5.22 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 8 3/4 to 18 3/4 cents lower at 6.21
1/4 per bushel.  Portland US Soft White wheat rail was steady to 5 cents higher from
5.75-6.13 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 1 1/2 cents lower to 3 3/4 cents
higher from 4.33 1/2-4.51 3/4 per bushel.  Kansas City US No 2 truck Yellow Corn was
2 1/2 to 7 1/2 cents higher from 4.39 1/4-4.59 1/4 per bushel.  Omaha US No 2 Yellow
Corn was 12 to 14 cents higher from 4.49-4.54 per bushel.  Chicago US No 2 Yellow
Corn was 5 1/2 cents lower to 7 1/2 cents higher from 4.61 1/4-4.84 1/4 per bushel.
Toledo US No 2 rail Yellow corn was 15 1/2 cents higher at 4.82 1/4 per bushel.
Minneapolis US No 2 Yellow corn rail was 13 1/2 cents higher at 4.16 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 6 3/4 cents lower to 7 1/4 cents higher from 3.05 1/4-3.28 1/4 per bushel.  US No
3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was
not quoted.  Portland US 2 Barley, unit trains and Barges-export was not quoted.

   SORGHUM:  US No 2 yellow truck, Kansas City was 13 to 14 cents higher from 7.29-
7.49 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 12 to 32 cents higher from 7.21-7.92 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 20 1/4 cents higher at 8.52 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 18 1/4 to 19 1/4
cents higher from 8.94-9.24 per bushel.  Kansas City US No 2 Yellow truck soybeans
were 9 1/4 to 15 1/4 cents higher from 8.44-8.59 per bushel.  Illinois 48 percent
soybean meal, processor rail bid was 4.30 higher from 308.40-322.40 per bushel.
Central Illinois Crude Soybean oil processor bid was 0.01 points higher from 27.68-
27.93 per cwt.

Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO
        Lonnie Peetz, Market Reporter 816-676-7000  StJoe.LPGMN@ams.usda.gov
        www.ams.usda.gov/mnreports/SJ_GR851.txt
        For more Grain Market News:
        https://www.ams.usda.gov/market-news/livestock-poultry-grain

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