USDA National Grain Review

ST. JOSEPH - Jul 3/02 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 3.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Wheat and soybean bids were sharply higher; corn bids lower heading into
the holiday.  Crop concerns due to hot, dry weather conditions supported wheat
and bean bids this week and kept corn from tumbling sharply lower.  Rains are 
forecast across the Midwest over the next few days and flooding is reported in 
parts of Texas.  Crop ratings were lowered this week with spring wheat down 7 
percent at 48 percent good to excellent.  Corn fell 4 percent below a week ago 
to 50 percent and soybeans were down 6 percent.  Export sales continued to 
disappoint traders this week and the wheat cancellation to China, weighed on 
bids.  Profit taking was noted in corn and bean pits earlier in the week.  
Wheat mostly 2 to 7 cents higher.  Corn 1 to 4 cents lower.  Sorghum 1 cent 
higher in Kansas City, Texas steady to 8 cents lower.  Soybeans 22 to 35 cents 
higher.
   
EXPORT SALES:
PURCHASER               COMMODITY                 TONNAGE     DELIVERY DATE
CCC North Korea    Soft White Wheat               45,000      Jul

**China canceled 100,000 metric tons of Hard Red Spring Wheat**

**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 5 1/4
to 7 1/4 cents higher at 3.70-3.75 per bushel.  Kansas City US No 2 Soft Red 
Winter rail bid 5 1/4 cents higher from 3.13-3.48 per bushel.  St. Louis truck 
US No 2 Soft Red Winter terminal bid 3 cents higher at 3.08 per bushel. 
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0-14.5 percent protein 
rail 2 1/2 cents lower to 2 1/2 cents higher at 3.91 1/2-3.96 1/2 per bushel.  
Portland US Soft White Wheat 1 cent lower at 3.74-3.76 per bushel.

   CORN:  Kansas City US No 2 rail White Corn 9 cents higher from 2.56-2.62
per bushel.  US No 2 truck Yellow Corn 2 to 4 cents lower at 2.19-2.21 per 
bushel.  Omaha US No 2 truck Yellow Corn 3 to 4 cents lower at 2.07-2.08 per 
bushel.  Chicago US No 2 Yellow Corn truck/rail bid 2 3/4 to 3 3/4 cents lower 
from 2.21 1/4-2.27 1/4 per bushel.  Toledo US No 2 rail Yellow corn 2 1/2 to 
2 3/4 cents lower from 2.25 1/4-2.30 1/4 per bushel.  Minneapolis US No 2 
Yellow Corn rail 1 1/2 cents lower at 2.10 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 2.50.  Portland US 2 Barley, unit trains and Barges-
export 5 cents lower to 10 cents higher at 4.70-4.85 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City 1 cents higher at 3.87 per
per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to 
the farmer, fob elevator) steady to 8 cents lower from 3.60-3.80 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 22 to 24 
cents higher from 5.53-5.64 per bushel.  Kansas City US No 2 Yellow truck 
soybeans 35 cents higher at 5.60 per bushel.  Minneapolis Yellow truck 
soybeans 27 cents higher at 5.41 per bushel.  Decatur 48 percent soybean meal, 
processor rail bid 6.50 to 7.50 higher from 182.50-186.50 per ton.  Decatur 
crude Soybean oil processor bid 7 points higher from 17.54-18.04 cents per 
pound.  Sunflower Crude Oil was not available.

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

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