USDA Weekly Grain Report

SJ_GR851
St. Joseph, MO    Fri Jul 13, 2018   USDA-MO Dept of Ag Market News

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, cash bids for wheat were mixed, corn and sorghum were
mixed, while soybeans were lower.  On Tuesday the US proposed another $200 billion
worth of tarrifs against China, setting a bearish tone early in the week. On
Thursday, USDA released the most recent WASDE reports lending some support back to
grain markets.  These new reports put US ending stocks for old crop corn at 1.552
billion bushels and new crop at 2.027 billion bushels, old crop soybeans estimated at
465 million bushels with new crop totaling 580 million bushels. New US ending stocks
could be viewed as bullish for corn and neutral for soybeans. Updated average yield
estimates show soybeans increased to 48.5 bushels per acre, and corn yield was
unchanged at 174 bushels per acre.  Wheat was mixed from 24 cents lower to 18 cents
higher.  Corn was mixed from 6 1/2 cents lower to 15 1/2 cents higher.  Sorghum was
mixed from 12 cents lower to 46 cents higher.  Soybeans were 3 1/2 to 8 1/2 cents
lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 22
cents lower from 5.58 1/4-5.73 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 21
to 24 cents lower from 4.91-5.09 per bushel.  Minneapolis and Duluth US No 1 Dark
Northern Spring, 14.0 to 14.5 percent protein rail, was 17 to 22 cents lower from
6.65 1/2-6.70 1/2 per bushel.  Portland US Soft White wheat rail was 5 to 18 cents
higher from 5.85-6.08 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was steady to 5 cents lower from 3.47
1/4-3.59 3/4 per bushel.  Kansas City US No 2 truck Yellow Corn was 5 1/2 cents
higher at 3.48 3/4 per bushel.  Omaha US No 2 Yellow Corn was 2 to 3 cents lower from
3.28-3.30 per bushel.  Chicago US No 2 Yellow Corn was 6 1/2 cents lower to 15 1/2
cents higher from 3.01 3/4-3.40 3/4 per bushel.  Toledo US No 2 rail Yellow corn was
3 1/2 to 6 1/2 cents lower from 3.31 3/4-3.40 3/4 per bushel.  Minneapolis US No 2
Yellow corn rail was 3 1/2 cents lower at 3.01 3/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 2 1/4 to 12 1/4 cents lower from 2.66 1/4-3.01 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 12 cents lower at 5.46 per cwt.
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 19 to 43 cents higher at 6.3 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 8 1/2 cents lower at 7.82 3/4
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 3 1/2 cents lower
from 8.21 3/4-8.49 3/4 per bushel.  Kansas City US No 2 Yellow truck soybeans were 5
1/2 cents lower from 8.23 3/4-8.28 3/4 per bushel.  Illinois 48 percent soybean meal,
processor rail bid was 3.50 to 4.50 higher from 340.90-342.90 per bushel.  Central
Illinois Crude Soybean oil processor bid was 0.05 to 0.30 points lower from 26.52-
27.77 per cwt.

Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO
        Joe Toeniskoetter, Market Reporter 816-676-7000  StJoe.LGMN@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

    809C   jt

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