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USDA Weekly Grain Report

SJ_GR851
St. Joseph, MO    Fri Sep 22, 2017   USDA-MO Dept of Ag Market News

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, corn and soybeans were lower, while wheat was mostly 
higher. As soybeans and wheat are seeing rallies there may be spillover support 
for corn.  Corns commercial view is looking bearish, with another early harvest 
weekend ahead.  November soybeans are looking to build bullish momentum as they 
finally extended their short-term uptrend.  The November soybeans daily 
technical study is showing the contract in an overbought situation.  There are 
short term uptrends seen in winter wheat, while the long-term commercial view 
remains bearish.  Weekly export sales and shipments for wheat showed a total of 
11.3 million bushels and 15.7 million bushels respectively for the 2017-2018 
marketing year. These numbers could be viewed as bearish for wheat.  Export 
sales of corn showed a total of 20.7 million bushels for the 2017-2018 marketing 
year with shipments of 27.7 million bushels.  These numbers can be viewed as 
bearish for corn.  Weekly export sales of soybeans showed a total of 85.9 
million bushels for the 2017-2018 marketing year, while it had shipments of 34.7 
million bushels.  These numbers can be viewed as neutral for soybeans.  Weekly 
export sales of grain sorghum showed a total of 2.0 million bushels with 
shipments of 2.8 million bushels.  These numbers can be seen as neutral for 
milo. Wheat was mixed, mostly 1 to 7 cents higher.  Corn was lower, mostly 3 to 
10 cents lower.  Sorghum was mixed, mostly 7 cents lower.  Soybeans were lower, 
mostly 5 to 11 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 
2 1/2 cents lower to 7 1/2 cents higher from 4.39 1/2-5.84 1/2 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 5 cents higher from 4.38-4.43 per bushel.  
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent 
protein rail, was 1 3/4 to 6 3/4 cents higher from 6.99 1/4-7.09 1/4 per bushel.  
Portland US Soft White wheat rail was steady to 2 1/2 cents higher from 5.10-
5.37 1/2 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was not quoted.  Kansas City US No 
2 truck Yellow Corn was 4 cents lower at 3.22 1/4 per bushel.  Omaha US No 
2 Yellow Corn was 7 to 10 cents lower from 3.07-3.13 per bushel.  Chicago US No 
2 Yellow Corn was 4 to 5 cents lower from 3.15 1/4-3.30 1/4 per bushel.  Toledo 
US No 2 rail Yellow corn was 3 to 4 cents lower from 3.25 1/4-3.29 1/4 per 
bushel.  Minneapolis US No 2 Yellow corn rail was 22 cents lower at 2.79 1/4 per 
bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 
day was 12 to 16 cents higher from 2.84-3.10 per bushel.  US No 3 or better rail 
malting Barley, 70 percent or better plump out of Minneapolis was steady at 4.70 
per bushel.  Portland US 2 Barley, unit trains and Barges-export was not 
available.

   SORGHUM:  US No 2 yellow truck, Kansas City was 7 cents lower at 5.36 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the 
farmer, fob elevator) was 7 cents lower to 1 cents higher from 5.71-6.25 per 
cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans was 17 1/4 cents lower at 9.06 
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 6 1/4 to 
11 1/4 cents lower from 9.45 3/4-9.64 3/4 per bushel.  Kansas City US No 2 
Yellow truck soybeans were 5 1/4 cents lower at 9.40 3/4 per bushel.  Illinois 
48 percent soybean meal, processor rail bid was 0.50 to 2.50 higher from 310.00-
313.00 per ton.  Central Illinois Crude Soybean oil processor bid was 0.73 
points lower from 32.60-33.60 cents per pound.

SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO
         Dakota Arthur, Market Reporter (816)676-7000
         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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