Weekly National Grain Market Review
St. Joseph, MO    Fri Aug 10, 2018   USDA-MO Dept of Ag Market News


   Compared to last week, cash bids for corn and soybeans were mixed, while sorghum
and wheat were mostly higher.  Even though we have seen tariffs placed on U.S.
exports in recent weeks, we continue to see elevated demand for our offerings in the
global market, especially on soybeans.  Soybean sales for 2019/20 have already topped
300 million bu, over twice the volume that was sold that far ahead a year ago at this
time.  China has even booked some soybeans for that year, proving they will need our
offerings even with tariffs in place.  Export sales totals for the week ending August
2nd were favorable for the market.  Corn sales were split with 21.8 million bu old
crop and 25.9 million bu new crop.  Soybean bookings came in at 15.5 million bu old
crop and 19.6 million bu new crop.  Wheat sales reached 11.6 million bu.  These were
all at the top end or above trade expectations.  Wheat was steady to 32 cents higher.
Corn was mixed from 7 1/2 cents lower to 2 1/2 cents higher.  Sorghum was 4 to 6
cents higher.  Soybeans were mixed from 3 1/2 cents lower to 9 1/2 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 9 1/4
cents higher from 6.63 1/2-6.78 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
steady to 1 cent higher from 5.60-5.64 per bushel.  Minneapolis and Duluth US No 1
Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 9 1/4 to 14 1/4 cents
higher at 6.94 3/4 per bushel.  Portland US Soft White wheat rail was 20 to 32 cents
higher from 6.12-6.28 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was steady to 1 3/4 cents higher from
3.76 1/2-3.82 3/4 per bushel.  Kansas City US No 2 truck Yellow Corn was 1 1/2 cents
lower to 1 1/2 cents higher from 3.64 1/4-3.65 1/4 per bushel.  Omaha US No 2 Yellow
Corn was 2 to 3 cents lower from 3.43-3.44 per bushel.  Chicago US No 2 Yellow Corn
was 2 1/2 cents higher from 3.34 1/4-3.44 1/4 per bushel.  Toledo US No 2 rail Yellow
corn was 7 1/2 cents lower to 2 1/2 cents higher from 3.49 1/4-3.66 1/4 per bushel.
Minneapolis US No 2 Yellow corn rail was 1 1/2 cents higher at 3.09 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 day
was 7 to 9 cents higher from 2.67 3/4-3.17 3/4 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 5 cents higher from 5.88-5.97 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 4 to 6 cents higher from 6.40-6.68 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 6 1/2 cents higher at 8.12 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 3 1/2 to 9 1/2 cents
higher from 8.62-8.86 per bushel.  Kansas City US No 2 Yellow truck soybeans were 3
1/2 cents lower from 8.69-8.74 per bushel.  Illinois 48 percent soybean meal,
processor rail bid was 0.20 to 1.20points lower from 341.60-343.60 per bushel.
Central Illinois Crude Soybean oil processor bid was 0.43 points higher from 26.80-
28.05 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
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