USDA Weekly Grain Report

SJ_GR851
St. Joseph, MO    Fri May 18, 2018   USDA-MO Dept of Ag Market News

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, cash bids for wheat, corn, sorghum, and soybeans were
lower.  Late Thursday brought more rumblings of a trade deal being made with China,
including no tariffs against U.S. agricultural commodities.  Also on Thursday, Export
sales for the week ending May 10th favored corn over the other commodities. Corn
sales were above trade estimates and the volume needed on a weekly basis with 38.8
million bu on old crop and 5.1 million bu new crop.  Wheat sales were split with 2.3
million bu old crop and 4.8 million bu new crop, which were in line with estimates
but short of the needed amounts.  Soybean bookings came out at 10.4 million bu old
crop and 8.3 million bu new crop, below expectations but well above weekly needs.
When it comes to crop condition, much of the focus in the market is on corn,
soybeans, and wheat. A conditions report that should getting more attention is on
U.S. pastures. These have a 20% lower rating than they did a year ago, which means we
could see animals brought into feedlots sooner than normal this year. In turn, we
could end up seeing more feed grain demand than predicted.  Wheat was steady to 19
1/4 cents lower.  Corn was 2 3/4 to 7 cents lower.  Sorghum was 12 to 13 cents lower.
Soybeans were 16 1/4 to 29 1/4 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2 cents
lower from 6.06-6.21 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 9 cents lower
from 4.83-5.04 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0
to 14.5 percent protein rail, was 4 1/4 to 19 1/4 cents lower from 7.49 3/4-7.64 3/4
per bushel.  Portland US Soft White wheat rail was steady to 9 1/2 cents lower from
5.75-5.90 1/2 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 5 cents lower from 3.86-3.93 per
bushel.  Kansas City US No 2 truck Yellow Corn was 2 3/4 cents lower at 3.85 1/4 per
bushel.  Omaha US No 2 Yellow Corn was 5 to 7 cents lower from 3.70-3.74 per bushel.
Chicago US No 2 Yellow Corn was 6 3/4 cents lower from 3.57 1/4-3.73 1/4 per bushel.
Toledo US No 2 rail Yellow corn was 4 3/4 to 6 3/4 cents lower from 3.82 1/4-3.90 1/4
per bushel.  Minneapolis US No 2 Yellow corn rail was 6 3/4 cents lower at 3.51 1/4
per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 1 3/4 cents lower from 2.66-3.11 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 5.9 per cwt.
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 12 to 13 cents lower from 6.71-6.87 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 27 1/4 cents lower at 9.40 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 21 1/4 to 29 1/4
cents lower from 9.75-9.79 per bushel.  Kansas City US No 2 Yellow truck soybeans
were 16 1/4 to 21 1/4 cents lower at 9.8 per bushel.  Illinois 48 percent soybean
meal, processor rail bid was 10.00 lower from 385.10-386.10 per bushel.  Central
Illinois Crude Soybean oil processor bid was 0.19 points lower from 29.14-29.44 per
cwt.

Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO
        Lindsay Brunet, 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

    755C  lrb

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