SJ_GR851 St. Joseph, MO Fri Jun 15, 2018 USDA-MO Dept of Ag Market News WEEKLY NATIONAL GRAIN MARKET REVIEW Compared to last week, cash bids for wheat were mixed, while corn, sorghum, and soybeans were lower. The U.S.D.A. made moderate reductions to both old and new crop corn carryout projections in the June supply and demand report. World corn ending stocks were cut 4.46 million metric tons due to the smaller crops in South America and the elevated demand for U.S. corn. Reductions also took place in the U.S. soybean balance sheets. Old crop stocks were reduced 25 million bu for a 505 million bu total, and new crop decreased 30 million bu to a 385 million bu total. Very little was changed in the wheat balance sheets. Old crop stocks increased 20 million bu while new crop declined 9 million bu. While these were minimal changes, the simple fact that wheat stocks did not increase gave the complex some much needed support. USDA said last week's export sales and shipments of corn totaled 36.9 million bushels (mb) and 55.3 mb respectively, neutral amounts for the week that have total shipments down 8% in 2017-18 from a year ago. Last week's export sales and shipments of soybeans totaled 19.1 mb and 22.0 mb respectively, a neutral combination that kept total soybean shipments down 9% in 2017-18 from a year ago. Last week's export sales and shipments of new-crop wheat totaled 11.1 mb and 11.4 mb respectively, a bearish and uninspiring start to the 2018-19 season that has total shipments 57% lower than a year ago. Wheat was mixed from 31 1/4 cents lower to 13 cents higher. Corn was 5 1/4 to 13 1/4 cents lower. Sorghum was 23 to 26 cents lower. Soybeans were 39 to 47 cents lower. WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 31 1/4 cents lower from 6.18 1/4-6.33 1/4 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 23 to 25 cents lower from 5.09-5.18 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 10 to 20 cents lower from 7.17 1/2-7.27 1/2 per bushel. Portland US Soft White wheat rail was steady to 13 cents higher from 5.90-6.18 per bushel. CORN: Kansas City US No 2 rail White Corn was 7 1/4 to 12 cents lower from 3.62 1/2-3.74 3/4 per bushel. Kansas City US No 2 truck Yellow Corn was 13 1/4 cents lower from 3.50-3.57 per bushel. Omaha US No 2 Yellow Corn was 12 cents lower from 3.45-3.46 per bushel. Chicago US No 2 Yellow Corn was 13 1/4 cents lower from 3.28- 3.43 per bushel. Toledo US No 2 rail Yellow corn was 10 1/4 to 13 1/4 cents lower from 3.54-3.58 per bushel. Minneapolis US No 2 Yellow corn rail was 5 1/4 cents lower at 3.19 per bushel. OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 9 cents lower from 2.55-3.00 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 23 cents lower at 6.04 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 24 to 26 cents lower from 6.21-6.30 per cwt. OILSEEDS: Minneapolis Yellow truck soybeans were 39 cents lower at 8.72 1/4 per bushel. Illinois Processors US No 1 Yellow truck soybeans were 44 to 45 cents lower from 9.09 1/4-9.22 1/4 per bushel. Kansas City US No 2 Yellow truck soybeans were 47 cents lower at 9.22 1/4 per bushel. Illinois 48 percent soybean meal, processor rail bid was 15.20 lower from 352.20-353.20 per bushel. Central Illinois Crude Soybean oil processor bid was 0.46 points lower from 28.34-28.64 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 807C lrb