USDA National Grain Review

ST. JOSEPH - Feb 3/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Feb 3.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were higher except wheat which was mix.
Wheat found support from the higher soybeans, dry conditions in the southern
plains, and the possibility of India coming into the market soon.  Iraq is
supposed to tender for one million bushels of wheat and the U.S. is hoping for a
large share, but nothing official yet.  Weekly export sales were reported at
429,200 tonnes.  Corn continues to go up as the higher soybeans, hot dry weather
in Argentina early in the week, and solid demand news triggered the gains.  Over
200,000 tonnes of corn were announced this week.  Weekly export sales for corn
came in at 1.44 million tonnes as compared to trade estimates 1.0-1.3 million
tonnes.  Soybeans also saw gains as dry hot weather in Argentina prevailed early
in the week.  However, moisture later in the week limit the gains.  The weather
outlook is calling for dry conditions again.  Weekly export sales were posted at
446,600 tonnes as compared to trade expectations 400,000-600,000 tonnes.  Wheat
was 6 cents lower to 6 cents higher.  Corn was steady to 4 cents higher.
Sorghum was 6-7 cents higher.  Soybeans were 9-11 cents higher.

EXPORT SALES:
PURCHASER               COMMODITY                    TONNAGE    DELIVERY DATE

Japan      U.S.   11.7 pct Hard Red Winter            16,000    Apr
                  13.0 pct Hard Red Winter             6,000    Apr
                  14.0 pct Dark Northern Spring       38,000    Apr
      Australia         Standard White                20,000

Unknown to Japan        Corn                         150,000    Aug 31
South Korea             Corn                          55,000    Apr

Total:  U.S. Wheat 60,000 tonnes; Australian 20,000 tonnes.  Corn 205,000
tonnes.

**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 City US No 1 Hard Red Winter, ordinary protein rail bid was 3
3/4 cents lower to 1/4 cent higher from 4.43 3/4-4 59 3/4 per bushel.  Kansas
City US No 2 Soft Red Winter rail bid was 6 1/4 cents higher from 4.17 3/4-4.37
3/4 per bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 6
cents lower to 2 cents higher from 3.41-3.78 per bushel.  Minneapolis and Duluth
US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 4 1/4 cents
lower to 2 3/4 cents higher from 4.80-4.97 per bushel.  Portland US Soft White
Wheat rail was 4 to 5 cents lower from 3.45-3.46 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 2 cents higher from 2.01-2.04
bushel.  US No 2 truck Yellow Corn was 4 cents higher at 2.01 per bushel.  Omaha
US No 2 truck Yellow Corn was steady to 4 cents higher at 1.94 per bushel.
Chicago US No 2 Yellow Corn was 1/2 cent lower to 4 1/2 cents higher from 2.05
1/2-2.12 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 3 1/2 cents higher
from 2.00 1/2-2.02 1/2 per bushel.  Minneapolis US No 2 Yellow Corn rail was 1/2
cent higher at 1.84 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis was
6 3/4 cents higher from 2.09-2.11 per bushel.  US No 3 or better truck malting
Barley, 70 percent or better plump out of Minneapolis was steady at 2.85.
Portland US 2 Barley, unit trains and Barges-export was steady to 5 cents higher
from 4.90-5.10 per cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was 7 cents higher at 3.59 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 6 to 7 cents higher from 3.44-3.53 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans no bid.  Illinois Processors US
No 1 Yellow truck soybeans were 9 to 11 cents higher from 5.72-5.79 per bushel.
Kansas City US No 2 Yellow truck soybeans were 11 cents higher at 5.64 per
bushel.  Decatur 48 percent Soybean meal, processor rail bid was 1.60 higher
from 175.90-180.90 per ton.  Decatur crude Soybean oil processor bid was 44
points higher from 21.20-21.95 cents per pound.  Sunflower Crude Oil was steady
to 83 points higher from 32.35-41.00 per pound.

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

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