USDA Livestock, Poultry & Grain Market News – Compared to the prior trading period, organic grains traded moderate on moderate demand.
Organic grain movement mostly on old crop contracts. Trade inactive on food grade corn and soybeans, roasted soybeans, barley, soft red winter, hard red winter, and hard red spring wheats.
Feed grade corn trade moderate at 23 cents higher FOB than the prior trading period. Feed grade soybeans traded light at 69 cents lower delivered than the prior trading period. Soybean meal trade activity light on light demand with steady to slightly lower undertones. Soybean oil traded steady on limited trades. Forward contract activity on new crop organic grains slowing down with prices steady.
The NASS National Crop Progress Report for the week ending June, 5, 2016 reports corn planted 98 per cent, corn emerged 90 per cent, soybeans planted 83 per cent, soybeans emerged 65 per cent, sorghum planted 58 per cent, oats headed 38 per cent, winter wheat headed 91 per cent, winter wheat harvested 2 per cent, spring wheat emerged 96 per cent, and barley emerged 93 per cent.
*To view the full market report courtesy of the USDA, click here.
*All prices listed in US dollars