USDA National Grain Review

ST. JOSEPH - May 17/02 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 17.

WEEKLY NATIONAL GRAIN MARKET REVIEW
   Wheat bids were slightly lower for the week, pressured by lower than
expected weekly export sales.  Rains in hard red winter wheat areas and
forecasts for dryer weather next week in soft red winter areas also weighed
on bids.  Corn bids were sharply higher as rains continued across eastern
Corn Belt region, pushing planting further back.  Forecasts are calling
For dryer weather next week in the Midwest but it will take several days
of drying to allow fieldwork to resume.  Export sales were slow this week
but are reported better than expected.  Additional gains were seen in
soybean pits this week, supported by higher corn trade, improved export
interest, and fund buying on the Boards.
   Wheat mostly 2 to 7 cents lower.  Yellow corn 4 to 11 cents higher.  
White corn 10 to 12 cents higher.  Sorghum 11 to 14 cents higher.  Soybeans 
7 to 9 cents higher.
EXPORT SALES:
PURCHASER               COMMODITY                   TONNAGE   DELIVERY DATE
CCC Pakistan     Soft White Wheat                   36,300    May/June 
CCC Madagascar 11.5 pct Hard Red Winter Wheat        5,000    May
CCC Nicaragua  14.0 pct Dark Northern Spring Wheat   7,390    May
Japan          11.7 pct Hard Red Winter Wheat       40,000    July
               13.0 pct Hard Red Winter Wheat        5,000
               Dark Northern Spring Wheat           35,000
South Korea    11.5 pct Hard Red Winter Wheat        4,000    July/Aug
                8.5 pct Western/Soft White Wheat     3,000
               10.5 pct Western/Soft White Wheat     8,000
               14.0 pct Dark Northern Spring Wheat   6,500
Taiwan         Corn                                 56,000    July
CCC Sudan      Corn                                 15,000    May/June
Totals:  Wheat 150,190 tonnes.  Corn 71,000 tonnes.
**THESE MAY NOT BE THE ONLY EXPORT SALES THAT HAVE TRANSPIRED, BUT THEY 
ARE THE ONLY SALES THAT COULD BE CONFIRMED BY USDA GRAIN MARKET NEWS.** 
   WHEAT:  Kansas US No 1 Hard Red Winter, ordinary protein rail bid 1/4 
cent higher at 3.10 1/2-3.25 1/2 per bushel.  Kansas City US No 2 Soft Red 
Winter rail bid 3 3/4 cents lower at 2.60 1/2-2.90 1/2 per bushel.  St. Louis 
truck US No 2 Soft Red Winter terminal bid 4 cents lower to 7 cents higher 
at 2.76-2.93 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 
14.0-14.5 percent protein rail 6 to 7 cents lower at 3.51 1/2-3.59 1/2 per 
bushel.  Portland US Soft White Wheat 2 cents lower at 3.42-3.43 per bushel.
   CORN:  Kansas City US No 2 rail White Corn 10 to 12 cents higher at 2.20-
2.24 per bushel.  US No 2 truck Yellow Corn 7 cents higher at 2.03-2.05 per 
bushel.  Omaha US No 2 truck Yellow Corn 7 cents higher at 1.95-1.96 per 
bushel.  Chicago US No 2 Yellow Corn truck/rail bid 7 3/4 to 11 1/4 cents
higher at 2.06 1/4-2.14 1/4 per bushel.  Toledo US No 2 rail Yellow corn 
9 3/4 to 11 3/4 cents higher at 2.00 1/4-2.07 1/4 per bushel.  Minneapolis US 
No 2 Yellow Corn rail 4 3/4 cents higher at 1.97 1/4 per bushel. 
   OATS AND BARLEY:  US 2 or Better rail Oats at Minneapolis had no quote.
US No 3 or better truck Malting Barley, 70 percent or better plump out of 
Minneapolis steady at 2.45.  Portland US 2 Barley, unit trains and Barges-
export steady to 5 cents lower at 4.75 per cwt.
   SORGHUM:  US No 2 yellow truck, Kansas City 14 cents higher at 3.52-3.54
per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to 
the farmer, fob elevator) 11 to 14 cents higher per cwt.
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 7 1/2 to 8
1/2 cents higher at 4.88 3/4-4.99 3/4 per bushel.  Kansas City US No 2 Yellow 
truck soybeans 7 to 8 cents higher at 4.82-4.84 per bushel.  Minneapolis 
Yellow truck soybeans 9 1/2 cents higher at 4.75 3/4 per bushel.  Decatur 48 
percent soybean meal, processor rail bid 4.00 to 4.50 higher at 165.00-168.00 
per ton.  Decatur crude Soybean oil processor bid 45 to 70 points higher at 
15.43-16.43 cents per pound.  Sunflower Crude Oil was 44 points higher at 
22.94 cents per pound.
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO