USDA Review: Grains Higher Except Soybeans

October 8th, 2012

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Category: Grains, Oilseeds

(The Crop Site) - US – Compared to last week, grain bids closed higher with soybeans trading  moderately lower.

Soybeans opened sharply lower in reaction to the bearish USDA  report last Friday, harvest pressure and better than expected yields.  However,  some support was noted due a lower U.S. dollar and good weekly export sales  which limited the losses.
Corn bids recovered posting solid gains as basis  levels were firm in reaction to slow producer selling, along with a lower dollar  offering a boost.  Corn harvest continues at a record pace of 54 percent  completed and soybeans at 40 percent early in the week.
Wheat was higher  despite lower than expected export sales and rain reported in the dry areas of  the southern plains.  The winter wheat is at 40 percent planted early in the  week.
Weekly export sales for wheat came in at 307,000 tonnes for the current  marketing year and none for the next year.  Export sales for corn came in at a  total of 326,900 tonnes, all for the current marketing year and soybeans came in  at 1,296,600 tonnes for the current marketing year and 6,300 for the next.
Wheat was 8-27 cents higher.  Corn was mostly 40-52 cents higher.  Sorghum was  74-82 cents higher.  Soybeans were 16-29 cents lower.

Wheat

  • Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 8  1/2 to 16 1/2 cents higher from 9.11 3/4-9.74 3/4 per bushel.
  • Kansas City US No  2 Soft Red winter rail bid no quote per bushel.
  • St. Louis truck US No 2 Soft  Red Winter terminal bid was 9 cents higher at 8.29 per bushel.
  • Minneapolis and  Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 27  cents higher at 10.11 1/4 per bushel.
  • Portland US Soft White wheat rail was 9  1/4 to 14 1/4 cents higher from 8.54 1/4-8.84 1/4 per bushel.

Corn

  • Kansas City US No 2 rail White Corn was 41 to 43 cents higher from  8.65-8.78 per bushel.
  • Kansas City US No 2 truck Yellow Corn was 41 to 44 cents  higher from 7.69-7.72 per bushel.
  • Omaha US No 2 truck Yellow Corn was 51 to 52  cents higher from 7.62-7.67 per bushel.
  • Chicago US No 2 Yellow Corn was 40 3/4  to 45 3/4 cents higher from 7.47-7.74 per bushel.
  • Toledo US No 2 rail Yellow  corn was 40 3/4 cents higher from 7.60-7.64 per bushel.
  • Minneapolis US No 2  Yellow corn rail was 33 3/4 cents higher at 7.03 per bushel.

Oats & Barley

  • US 2 or Better oats, rail bid to arrive at Minneapolis 20  day was 2 1/2 cents higher from 3.75 3/4-3.95 3/4 per bushel.
  • US No 3 or better  rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents  higher at 7.05 per bushel.
  • Portland US 2 Barley, unit trains and Barges-export  was not available per cwt.

Sorghum

  • US No 2 yellow truck, Kansas City was 74 to 82 cents higher from  12.63-12.71 per cwt.
  • Texas High Plains US No 2 yellow sorghum (prices paid or  bid to the farmer, fob elevator) was 79 to 80 cents higher from 12.80-12.98 per  cwt.

Oilseeds

  • Minneapolis Yellow truck soybeans were 16 1/4 cents lower at 15.09  1/2 per bushel.
  • Illinois Processors US No 1 Yellow truck soybeans were 19 1/4  to 29 1/4 cents lower from 15.51 1/2-15.66 1/2 per bushel.
  • Kansas City US No 2  Yellow truck soybeans were 24 cents lower at 15.52 per bushel.
  • Central Illinois  48 percent Soybean meal, processor rail bid was 4.30 to 5.30 lower from 483.80- 486.80 per ton.
  • Central Illinois Crude Soybean oil processor bid was 107 points  lower from 49.54-50.04 cents per pound.

TheCropSite News Desk

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