USDA National Grain Review

ST. JOSEPH - Jul 19/02 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 19.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Grain and soybean prices were sharply higher for the week with most 
significant gains seen early on in the week.  This was primarily a weather 
market this week with growing concerns over crop conditions and potential affect 
on harvest yields and total production numbers.  
   Corn bids higher this week due to the hot, dry weather over the past couple 
of weeks.  Areas in the upper cornbelt region and midwest received scattered 
showers the past couple of days, but no enough to warrant a lower market.  
Scattered showers forecasted over the weekend with not much hope for significant 
rainfall amounts.  Not much support from weekly exports sales with 56,000 metric 
tons confirmed by the USDA.  This number combined with other reported private 
estimates coming in at expectations.  For now, all eyes and ears continue to be 
glued to the weather channel.
   Soybean bids continue to soar making an impressive gain this week.  Soybeans 
are now right under the 6.00 mark with Illinois reporting beans as high as 6.03 
1/2.  Weather lending most support, as significant rainfall is needed to 
alleviate current conditions.  No weekly export sales confirmed this week by the 
USDA, however private estimates were fairly impressive.
   Wheat bids receiving most support from excellent weekly export sales.  
328,200 metric tons of wheat confirmed by the USDA along side a large report of 
private estimates coming in well above expectations.  A little pressure felt 
Thursday as rains fell in the upper Midwest.  Current total U.S. wheat stocks 
are down 7 million metric tons.  
   Wheat 6 to 12 cents higher, with St. Louis soft red winter wheat 17 cents 
higher.  Corn 9 to 12 cents higher, with Kansas City white corn 3 cents higher.  
Soybeans 16 to 23 cents higher.  Sorghum 14 to 24 cents higher.

EXPORT SALES:
PURCHASER               COMMODITY                    TONNAGE      DELIVERY DATE
Taiwan	     Western White Wheat		      15,400	   Aug-Oct
Taiwan	     Hard Red Winter Wheat	            46,800	   Aug-Oct
Taiwan	     Dark Northern Spring Wheat          103,800	   Aug-Oct
South Korea	     Soft White Wheat			      21,100	   Aug-Sept
South Korea	     11.5 pct Hard Red Winter Wheat	      11,300	   Aug-Sept
South Korea	     14.0 pct Dark Norther Spring	      11,800	   Aug-Sept
Japan		     Western White Wheat		      20,000	   Sept-Oct
Japan		     11.7 pct Hard Red Winter Wheat	      20,000	   Sept-Oct
Japan		     13 pct Hard Red Winter Wheat		20,000	   Sept-Oct
Japan		     14 pct Dark Northern Spring Wheat    20,000	   Sept-Oct
Japan		     Barley	           	                  20,000         Sept-Oct
Taiwan	     Corn					      56,000	   Aug-Sept
CCC              Soft White Wheat                     38,000         Sept

Totals:  328,200 metric tons of Wheat.  56,000 metric tons of Corn.  20,000 
metric tons of Barley.

**THESE MAY NOT BE THE ONLY EXPORT SALES THAT HAVE TRANSPIRED, BUT THEY ARE
  THE ONLY SALES THAT COULD BE CONFIRMED BY THE USDA GRAIN MARKET NEWS.** 

   WHEAT:  Kansas US No 1 Hard Red Winter, ordinary protein rail bid 8 to 11 
cents higher from 3.91 1/4-4.01 1/4 per bushel.  Kansas City US No 2 Soft Red 
Winter rail bid 12 cents higher from 3.40 1/4-3.75 1/4 per bushel.  St. Louis 
truck US No 2 Soft Red Winter terminal bid 17 cents higher at 3.28 per bushel.  
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0-14.5 percent protein 
rail 5 to 11 cents higher at 4.07 1/2 per bushel.  Portland US Soft White Wheat 
6 to 8 cents higher from 3.74-3.78 per bushel.

   CORN:  Kansas City US No 2 rail White Corn 3 cents higher from 2.62-2.65 per 
bushel.  US No 2 truck Yellow Corn 9 to 11 cents higher from 2.23-2.25 per 
bushel.  Omaha US No 2 truck Yellow Corn 11 to 12 cents higher at 2.12 per 
bushel.  Chicago US No 2 Yellow Corn truck/rail bid 10 to 11 cents lower 
from 2.23 3/4-2.29 3/4 per bushel.  Toledo US No 2 rail Yellow corn 9 to 10 
cents higher from 2.27 3/4-2.31 3/4 per bushel.  Minneapolis US No 2 Yellow Corn 
rail 9 cents higher at 2.14 3/4B 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 10 cents higher 2.60.  Portland US 2 Barley, unit trains and Barges-
export 15 to 20 cents higher from 4.95-5.10 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City 6 cents higher at 3.89 per cwt.  
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob 
elevator) 14 to 24 cents higher from 3.78-3.96 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 22 to 28 cents 
higher from 5.86 1/2-6.03 1/2 per bushel.  Kansas City US No 2 Yellow truck 
soybeans 16 to 17 cents higher at 5.83-5.84 per bushel.  Minneapolis Yellow 
truck soybeans 22 cents higher at 5.73 1/2B per bushel.  Decatur 48 percent 
soybean meal, processor rail bid mixed at 1.00 higher to 1.00 lower from 189.00-
190.00 per ton.  Decatur crude Soybean oil processor bid 85 to 110 points higher 
from 19.43-19.93 cents per pound.  Sunflower Crude Oil was not available due to 
a lack of supply.

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

The subscriber version of the article is available by Clicking here