Daily National Grain Market Summary
SJ_GR850
St. Joseph, MO     Thu, Mar 08, 2018     USDA-MO Dept of Ag Market News

Daily National Grain Market Summary

  Compared to yesterday, cash bids for corn and sorghum were higher, soybeans
were lower, and wheat was mixed.  USDA lowered its estimate of U.S. ending
stocks of corn from 2.352 billion bushels (bb) to 2.127 bb for 2017-18. The drop
came from a 50 million bushel (mb) increase in the estimate of ethanol demand
and a 175 mb increase in export demand.  USDA reduced its estimate of world
ending soybean stocks from 98.1 mmt to 94.4 mmt (3.5 bb), largely due to
Argentina's soybean crop going from 54.0 mmt to 47.0 mmt (1.7 bb).  USDA
increased its estimate of U.S. ending wheat stocks from 1.009 bb to 1.034 bb,
which was more than expected after the export estimate was cut 25 mb. The export
reduction was no surprise, but this report did not show new-crop estimates that
the market is already trading on.  Corn was 4 1/4 to 7 1/4 cents higher.
Sorghum was 11 1/4 cents higher.  Soybeans were 1 1/4 to 8 1/4 cents lower.
Wheat was from 1 cent lower to 4 3/4 cents higher.


                             DATE               CHANGE                 YEAR AGO
TRUCK BIDS:                  3/8/2018          3/7/2018                3/9/2017

Wheat:
   Kansas City (HRW ORD)     5.2325            DN 1.00                  4.1050
   Minneapolis               6.3975            UP 4.75                  5.4875
   Portland (SWW)            5.4000-5.7800       UNCH                4.6400-4.7900
   St. Louis (SRW)           4.8900-5.0700     UP 2.00               4.2400-4.3800

Corn, US No 2 Yellow:
   Kansas City               3.7550            UP 6.25               3.4000-3.4500
   Minneapolis               n/a               No Comp               3.4000-3.4500
   So. Iowa                  3.6350-3.6850     UP 4.25-UP 7.25       3.5100-3.5300
   Omaha                     3.6600-3.7000     UP 7.00               3.1700-3.2900

Soybeans, US No 1 Yellow:
   Kansas City               10.1900-10.2400   DN 1.25                  9.6225
   Minneapolis               n/a               No Comp                   n/a
   So. Iowa                  10.0700-10.1300   DN 8.25-DN 4.25       9.7300-9.8200
   Cent. Il Processor        10.2600-10.4600   DN 7.25-DN 1.25       9.9100-10.0100

FUTURES:
   Kansas City Wheat  (May)  5.3325            DN 1.00                  4.6250
   Minneapolis Wheat  (May)  6.2475            UP 4.75                  5.3875
   Chicago Wheat      (May)  4.9925            UP 2.00                  4.4400
   Chicago Corn       (May)  3.9350            UP 6.25                  3.6700
   Chicago Soybeans   (May)  10.6400           DN 1.25                 10.1100

*EXPORT BIDS:  Barge bids out of the Port of New Orleans,
or Rail out of the North Texas Gulf. Bids Per bushel, except sorghum per cwt.

US 1 HRW Wheat Ord Protein
                             n/a               No Comp               4.2250-4.3350
US 2 Soft Red Winter Wheat
                             5.5425-5.6425     UP 2.00               4.8000-4.8900
Corn
  Barge                      4.5350-4.5650     UP 11.25-UP 9.25      4.0400-4.0800
US 2 Sorghum
  Rail                       8.2775-8.5450     UP 11.25              6.8225-6.9100
  Barge                      n/a               No Comp                   n/a
US 2 Yellow Soybeans
  Barge                      11.0400-11.0500   DN 1.25-DN 3.25       10.3700-10.3900


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_GR850.txt
        For more Grain Market News:
        https://www.ams.usda.gov/market-news/livestock-poultry-grain

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