QA_GR110 New Holland, PA Mon, Jun 17, 2013 USDA Market News Pennsylvania Weekly Grain Report - New Holland, PA The market information listed below is collected through the USDA Quality Systems Assessment (QSA) Livestock Auction Market Reporting (LAMR) program under the supervision and oversight of USDA Livestock and Grain Market News. When compared to last week cash bids; corn, wheat, and beans were mostly lower across the state. Bases are holding mostly steady for the eastern and central regions, although some weakening of the basis was noted for corn in the central, and beans in the eastern region. USDA released their WASDE (World Agricultural Supply and Demand Estimates) Report last week, which left US planted acreage the same as its earlier estimates and reduced estimated corn yields by 1.5 bushels. The report was considered bearish; taking in account the trade expected USDA to reduce acreage and yields by much more, although USDA typically will not change acreage until their end of June "Acreage Report". There is no doubt that some acreage was lost or converted to beans, but whether it's 1% or 5%, production should be more than adequate to meet demand unless damaging weather emerges. Currently weather outlooks are favorable for the growing season with rain and moderate temperatures forecasted for Kansas, Missouri, and Illinois. Iowa will remain dry until later in the week which should allow farmers back in the fields for soybean planting, provided the fields have good drainage. Corn planting is completed for the year and 92% of the crop is emerged according to USDA's Crop Progress Report. Crop conditions are well off, with 63% of the crop in good to excellent condition, 28% in fair condition, and only 9% in poor or very poor condition. 85% of the soybeans have been planted with 66% emerged, compared to 91% and 80% on the 5 yr average. 56% of the crop is in good to excellent condition, 32% in fair, and 11% in poor to very poor condition. All grain and soybean prices are quoted per bushel delivered to the mill or elevator. Bases reflect last Friday's CME close against Monday morning's cash bids. US NO 2 YELLOW CORN Bids Change Basis Change Eastern 7.0500-7.3500 DN 10-DN 11 50N to 80N UNCH Central 6.8000-7.3500 DN 20-DN 15 25N to 80N DN 10-DN 5 Western 6.5500-6.7500 UP 40-DN 11 OptN to 20N UP 50-UNCH US NO 2 SOFT RED WINTER WHEAT Bids Change Basis Change Eastern 6.3000-6.5600 DN 86-DN 110 -50N to -25N DN 70-DN 95 Central 6.0000-6.7500 No Comp -80N to -5N No Comp Western 6.3100-6.4500 DN 15-DN 16 -50N to -35N UNCH US NO 3 FEED BARLEY Bids Change Eastern 4.0000-4.2500 DN 10-DN 25 Central 4.0000-4.5000 DN 115-DN 75 Western NA NA US NO 2 WHITE OATS Bids Change Basis Change Eastern 4.3000-4.7000 UP 30-UNCH 30N to 70N UP 38-UP 8 Central 4.0000-5.1000 No Comp OptN to 110N No Comp US NO 2 SOYBEANS Bids Change Basis Change Eastern 14.7600-15.1900 DN 24-DN 22 -40N to OptN DN 12-DN 10 Central 14.3600-15.0000 DN 14-DN 23 -80N to -15N UNCH-DN 10 Western 14.3400-15.0650 DN 84-DN 16.5 -80N to -10N DN 70-DN 5 AVERAGE BID PRICE Corn Wheat Barley Oats Soybeans Eastern 7.21 6.46 4.13 4.50 14.98 Central 7.15 6.38 4.13 4.28 14.68 Western 6.68 6.37 NA NA 14.82 EASTERN - CONTRACTS Bids Change Basis Change Corn 5.3300-5.5800 DN 27-DN 25 Optz to 25z UNCH Wheat 6.4100-6.8700 DN 9-UP 22 -60z to -15z UP 10-UP 40 Soybeans 12.5900-12.8000 DN 1-DN 15 -40x to -20x UP 30-UP 17 Source: USDA Market News Service, New Holland, PA Levi Geyer 717-354-2391 24 hr market information 717-787-6006 www.ams.usda.gov/mnreports/QA_GR110.txt www.ams.usda.gov/LPSMarketNewsPage 1856E LG