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St. Joseph, MO Fri May 28, 2004 USDA-MO Dept of Ag Market News
WEEKLY NATIONAL GRAIN MARKET REVIEW
Grain and soybean bids had a bad day on Thursday, especially soybeans. Funds
and board traders seemed to want to establish a position and take off for a long
Holiday weekend.
Wheat bids made fairly good upturns early in the week but most of these
erased in late week trade. Fair export announcements this week. Trade members
watching harvest progress, yields, and elevator price pressure. Hard red winter
wheat harvest moving through Oklahoma but rains delayed and in some cases
damaged soft red winter wheat. Wet fields delayed planting of spring wheat.
Rains make corn. However, some areas received too much of a good thing.
Isolated cases of flooding reported near some small rivers and ponding damage in
many bottom fields. It is getting a little late to replant and finish planting
corn. Nice volume export announcements for corn this week.
Soybean bids took a nose dive on Thursday. Soybean meal and oil followed
their leader. Only small volume export announcements on the books. Few flooded
and ponded corn acreages may now go to soybeans. Rains delayed soybean seeding
but crunch time not here yet for beans. Soybean bids at some centers 1.80 lower
in the past three weeks but started at a very high level. The most decline on
nearby bids which started out at a very high level.
For the week; wheat mostly 1 cents higher to 4 cents lower. Corn 7 to 8
cents higher with Minneapolis up 11 1/2 and Kansas City White Corn up 7 to 12.
Sorghum 1 to 12 cents higher. Soybeans 51 to 66 cents lower.
EXPORT SALES:
PURCHASER COMMODITY TONNAGE DELIVERY DATE
CCC to Sierra Leone 11.5 pct Hard Red Winter 3,000 Jun 25-Jul 8
Unknown to Mexico Corn 115,000 04/05 Mkting Year
Unknown Corn 120,000 03/04 Mkting Year
Unknown to Mexico Soybean Oil 26,127 04/05 Mkting Year
CCC to Pakistan Yellow Soybeans 11,000 Jun 4-14
Japan from U.S. 11.7 pct Hard Red Winter 37,000 July
13.0 pct Hard Red Winter 10,000
14.0 pct Dark Northern Spring14,000
10.5 pct Western White 20,000
from Canada 1 Canadian Western Red Spring 25,000 July
from Australia Standard White 20,000 July
Unknown Corn 55,000 03/04 Mkting Year
Corn 110,000 04/05 Mkting Year
Totals:
Wheat 129,000 tons. Corn 400,000 tons. Soybeans 11,000 tons. Soybean Oil 26,127 tons.
**THESE MAY NOT BE THE ONLY EXPORT SALES THAT HAVE TRANSPIRED, BUT
THEY ARE THE ONLY SALES THAT COULD BE CONFIRMED BY THE USDA GRAIN MARKET
NEWS.**
WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 1
1/4 cents lower from 4.02 1/4-4.32 1/4 per bushel. Kansas City US No 2 Soft Red
Winter rail bid was 3/4 cents higher to 1 1/4 lower from 3.96 1/4-4.16 1/4 per
bushel. St. Louis truck US No 2 Soft Red Winter terminal bid was 1 cents higher
to 19 cents lower at 3.68 per bushel. Minneapolis and Duluth US No 1 Dark
Northern Spring, 14.0 to 14.5 percent protein rail, was 1 3/4 to 3 3/4 lower
from 4.52 3/4-4.67 3/4 cents per bushel. Portland US Soft White Wheat rail was
steady to 3 cents lower at 4.18 per bushel.
CORN: Kansas City US No 2 rail White Corn was 7 to 12 cents higher from
2.86-2.90 cents per bushel. US No 2 truck Yellow Corn was 7 cents higher at
2.84 per bushel. Omaha US No 2 truck Yellow Corn 8 cents higher at 2.82 per
bushel. Chicago US No 2 Yellow Corn was 2.50-7.50 higher from 2.93 3/4-2.98 3/4
per bushel. Toledo US No 2 rail Yellow corn was 7.50 higher from 2.91 3/4-2.94
3/4 per bushel. Minneapolis US No 2 Yellow Corn rail, was 11 1/2 cents higher
at 2.90 3/4 per bushel.
OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis was
1 1/4 to 5 1/4 cents higher at 1.60 1/2-1.64 1/2 per bushel. US No 3 or better
truck Malting Barley, 70 percent or better plump out of Minneapolis was steady
at 2.70. Portland US 2 Barley, unit trains and Barges-export was not available.
SORGHUM: US No 2 yellow truck, Kansas City was 12 cents higher at 4.87 per
cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 1 to 6 cents higher from 4.67-4.80 per cwt.
OILSEEDS: Minneapolis Yellow truck soybeans were .53 lower at 8.26.
Illinois Processors US No 1 Yellow truck Soybeans were .51 to .56 lower from
8.33-8.45 per bushel. Kansas City US No 2 Yellow truck soybeans were .61- to
.66 lower at 8.40-8.45 per bushel. Decatur 48 percent soybean meal, processor
rail bid was 25.00 lower from 253.50-262.50 per ton. Decatur crude Soybean oil
processor bid was 107 points lower from 29.33-29.58 cents per pound. Sunflower
Crude Oil was 38-138 points lower from 32.58-33.58 cents per pound.
SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO
Ray Faulk, Market Reporter (816)238-0678
www.ams.usda.gov/mnreports/SJ_GR851.txt
For more Grain Market News:
www.ams.usda.gov/lsg/mncs/ls_grain.htm
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