Farmer selling of corn and soybeans was very light this past week as attention shifted to spring field preparations and in some cases corn planting.
Rain late last week and on Monday did sideline planters for a few days, said grain dealers in Illinois, Indiana and Iowa. Some corn planting was under way last week in central and southern Illinois and in southeast Iowa.
"Farmers were not in the mood to sell," said one Iowa dealer.
Lower crop prices this past week discouraged selling of old-crop and new. Despite the light selling, elevators throughout the Midwest said they had enough supplies to fill barges, rail cars or trucks. Corn and soybean processors continued to be the best market for crops, although a central Iowa dealer said the river was becoming competitive with processors for soybeans.
On the Mississippi River near the Quad Cities, barge loading of corn and soybeans was under way to meet export commitments at the Gulf. Barge availability improved from a few weeks ago.
USDA said barge grain movements during the week ended April 4 totaled 703,341 tons—13% higher than the previous week and up 11% from the same period last year. During that week, it said 445 grain barges move down river, up 16% from last week; 451 grain barges were unloaded in New Orleans, down 28% from the previous week.
Barge rates inched up on a number of key river routes. Rates on the mid-Mississippi went to 438% of tariff from 413% the previous week, to 440% on the lower Illinois from 423% and to 358% on lower Ohio from 355%, USDA said.
The latest weekly export inspections on Monday morning put soybeans at 16.5 million bushels, down from a week ago but in line with trade forecasts. Corn's 33.7 million bushels were down from the previous week but within forecasts, and wheat's 16.4 million bushels also were down from a week ago but within forecasts.
Corn and soybean destinations on page 2 >>>
Corn Destinations –Week ended April 9, Tonnes
Soybean export destinations – Week ended April 9, Tonnes