USDA National Grain Review

ST. JOSEPH - May 31/02 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 31.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Weather seems to be the main factor this week, as corn and soybean bids are 
higher.  Traders concerned over potentially lower corn harvest yields 
due to planting delays from moisture and cool weather and future moisture in 
planted and nonplanted areas.A few dry days last week and through the Holiday 
weekend boosted planting progress.  Soybean bids found further support from 
higher meal and oil prices, along with some technical buying on Thursday.  Some 
concern however over US exports of beans late this summer as South America is 
currently behind with an abundance in storage.  Wheat bids trading higher as 
well, thanks to support from corn and soybean bids, along with some fund buying 
on the board.  A little pressure seen on Thursday with European markets 
approving more export licenses.  Higher weekly export sales, especially Wheat 
(up 58,000) lended support with Egypt, Japan, and Spain the biggest buyers.  
   Wheat 1 to 9 cents higher, with the exception of Minneapolis 1 to 6 cents 
lower.  Corn 4 to 7 cents higher.  Sorghum  9 to 15 cents higher.  Soybeans 4 to 
11 cents higher.    
   
EXPORT SALES:
PURCHASER               COMMODITY              TONNAGE   DELIVERY DATE

CCC Sudan		Ord Hard Red Winter Wheat	8,000		June
Unknown		Corn				    101,600		Unknown
Spain			Soybeans			    110,000		Aug
Taiwan		Corn				     25,000		Jun
Taiwan		Soybeans			     10,000		Jun
Japan			Hard Red Winter Wheat	     40,000		Jul-Aug
Japan			Dark Northern Spring Wheat   45,000		Jul-Aug
Japan			Western White Wheat	     45,000		Jul-Aug
Egypt			Corn				    120,000       Sep
Taiwan		Soybeans			     54,000		Aug

Totals:  Wheat 138,000 tonnes.  Corn 246,600 tonnes.  Soybeans 174,000
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 2 3/4
cents higher at 3.20 3/4-3.35 3/4 per bushel.  Kansas City US No 2 Soft Red 
Winter rail bid 2 3/4 cent higher at 2.63 3/4-2.93 3/4 per bushel.  St. Louis 
truck US No 2 Soft Red Winter terminal bid 9 cents higher to 3 cents lower at 
2.78 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0-14.5 
percent protein rail 1 1/4 to 6 1/4 cents lower at 3.58 1/2 per bushel.  
Portland US Soft White Wheat 1 to 3 cents higher at 3.46-3.49 per bushel.

   CORN:  Kansas City US No 2 rail White Corn steady at 2.20-2.24 per bushel.  
US No 2 truck Yellow Corn 4 to 6 cents higher at 2.03-2.06 per bushel.  Omaha
US No 2 truck Yellow Corn 5 to 6 cents higher at 1.96 per bushel.  Chicago US 
No 2 Yellow Corn truck/rail bid 3 1/2 to 5 1/4 cents higher at 2.05 1/2-2.11
1/2 per bushel.  Toledo US No 2 rail Yellow corn 5 3/4 to 6 3/4 cents higher at 
2.03 1/2-2.09 1/2 per bushel.  Minneapolis US No 2 Yellow Corn rail 4 3/4 cents 
higher at 2.00 1/2 per bushel. 

   OATS AND BARLEY:  US 2 or Better rail Oats at Minneapolis 2.32 3/4-2.34 3/4.
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 10 cents lower at 4.60-4.80 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City 9 to 11 cents higher at 3.53 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to 
the farmer, fob elevator) 9 to 15 cents higher at 3.35-3.44 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 4 3/4 to 9 3/4 
cents higher at 5.10 1/4-5.20 1/4 per bushel.  Kansas City US No 2 Yellow truck 
soybeans 10 to 11 cents higher at 4.89-4.91 per bushel.  Minneapolis Yellow 
truck soybeans 9 3/4 cents higher at 4.95 1/4 per bushel.  Decatur 48 percent 
soybean meal, processor rail bid 4.50 higher at 167.00-170.00 per ton.
Decatur crude Soybean oil processor bid 26 points higher at 16.88-17.63 cents 
per pound.  Sunflower Crude Oil was 82 points higher at 24.51
cents per pound.

SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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