USDA Weekly Grain Report

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

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, cash bids for wheat and soybeans were higher, corn was
mixed and sorghum was lower.   After Tuesday's WASDE report, Brazil's soybean crop
estimate was increased to a record high 115.0 mmt (4.23 bb) while Argentina's
estimate was cut from 47.0 mmt to 40.0 mmt (1.47 bb).  Ethanol production for week
ending April 6th totaled 1.034 million barrels per day, 4,000 less than the week
prior. Corn planting may remain slow to start with weather forecasts showing below average
temperatures into the weekend for parts of the Corn belt.  USDA said last week's
export sales and shipments of U.S. soybeans totaled 55.5 mb and 15.4 mb respectively,
a neutral-to-bearish showing for the week with total shipments now down 13% from a
year ago. It seems fair to say U.S. wheat exports aren't going to provide any bullish
help to wheat prices in 2017-18. USDA said last week's export sales and shipments of
wheat totaled 4.4 mb and 16.0 mb respectively, another bearish combination for the
week. Total wheat shipments are now down 10% from a year ago and are making no dent
in the heavy load of old-crop winter wheat supplies.  Wheat was higher from 9 1/4 to
53 1/4 cents higher.   Corn was mixed from 1/4 cent lower to 4 1/4 cents higher.
Sorghum was 1 to 3 cents lower.  Soybeans were 29 1/2 to 36 1/2 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 23
cents higher from 5.91 1/2-6.06 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 17
cents higher from 4.76-4.93 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 33 1/4 to 53 1/4 cents higher at 7.68
per bushel.  Portland US Soft White wheat rail was 9 1/4 to 42 cents higher from
5.82-5.91 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 1/4 cent lower to 4 1/4 cents
higher from 3.85-3.89 1/4 per bushel.  Kansas City US No 2 truck Yellow Corn was 3/4
cent lower at 3.74 3/4 per bushel.  Omaha US No 2 Yellow Corn was 1 to 2 cents higher
from 3.69-3.72 per bushel.  Chicago US No 2 Yellow Corn was 3/4 cent lower from 3.53
3/4-3.71 3/4 per bushel.  Toledo US No 2 rail Yellow corn was 3/4 cent lower to 1 1/4
cents higher from 3.78 3/4-3.79 3/4 per bushel.  Minneapolis US No 2 Yellow corn rail
was not quoted.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 4 3/4 cents higher from 2.52 1/2-2.97 1/2 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 1 cent lower at 6.23 per cwt.
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 1 to 2 cents lower from 6.62-6.77 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were has no comparison at 10.04 3/4
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 29 1/2 to 36 1/2
cents higher from 10.4 3/4-10.5 3/4 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 29 1/2 cents higher from 10.2 3/4-10.3 3/4 per bushel.  Illinois 48
percent soybean meal, processor rail bid was 2.80 to 6.80 higher from 388.40-394.40
per bushel.  Central Illinois Crude Soybean oil processor bid was 0.15 points lower
from 29.83-30.13 per cwt.Feedstuff prices were mostly mixed for the week.  Demand
moderate with supplies readily available.  Commodity prices are still being affected
by drought in South America and the corn belt here in the US.

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

    824C   jt

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