USDA National Grain Review

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

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week, grain and soybean bids closed higher except wheat which was
mix.  Weather early in the week was uncertain for the southern plains but the
chances of rain grew greater by mid-week to pressure the market.  The hard red
winter wheat region is in much need of rain as conditions look very poor.  The
weekly export sales were disappointing coming in at 177,500 tonnes.  Corn and
soybeans ended the week on a positive note despite the negative news clouding
the market.  The lack of producer selling lend some support to soybeans.  Bird
flu spreading across Europe, India, and the Middle-east are causing concerns in
the trading pits, along with heavy supplies.  Argentina received moisture late
last week limiting the upside.  The soybean harvest has started in Brazil adding
more supplies in the global market.  Weekly export sales for corn were bearish
coming in at 613,500 tonnes.  Soybeans were reported at 552,400 tonnes as
compared to trade estimates 350,000-550,000 tonnes.  Wheat was 3 cents lower to
8 cents higher.  Yellow corn was 2-8 cents higher with KC white corn 8-12 cents
higher.  Sorghum was 7-37 cents higher.  Soybeans were 17-22 cents higher.

EXPORT SALES:
PURCHASER               COMMODITY                    TONNAGE    DELIVERY DATE
Japan    U.S.     11.7 pct Hard Red Winter            16,000    May
                  13.0 pct Hard Red Winter             4,000    May
                  14.0 pct Dark Northern Spring       57,000    May
                  10.5 pct Western White               8,000    May
      Canada      13.5 pct Western Red Spring         26,000
                  13.0 pct Western Amber Durum        15,000
   Australia            Prime Hard                    21,000
                        Standard White                20,000
CCC to South
African Region    12.5 pct Hard Red Winter             3,000    Mar 15-25

Pvt. Ex. to Japan       Corn                         195,072    Aug 31, 2006

CCC to Zambia           Sorghum                        2,000    March 15-25

Pvt. Ex. to Japan       Soybeans                     125,000    Aug 31, 2007

Total:  U.S. Wheat 88,000 tonnes; Canadian 41,000 tonnes; Australian 41,000
tonnes.  Corn 195,072 tonnes.  Sorghum 2,000 tonnes.  Soybeans 125,000 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 1
1/4 cents lower to 8 3/4 cents higher from 4.55 3/4-4 87 3/4 per bushel.  Kansas
City US No 2 Soft Red Winter rail bid was 2 1/4 cents lower from 4.37 3/4-4.57
3/4 per bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 3
cents lower at 3.63 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 1/4 cent lower from 4.85 1/2-5.05
1/2 per bushel.  Portland US Soft White Wheat rail was 3 to 5 cents higher from
3.62-3.69 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 8 to 12 cents higher from
2.28-2.34 bushel.  US No 2 truck Yellow Corn was 3 to 5 cents higher from 2.06-
2.08 per bushel.  Omaha US No 2 truck Yellow Corn was 5 cents higher from 1.96-
1.98 per bushel.  Chicago US No 2 Yellow Corn was 2 1/4 to 8 1/4 cents higher
from 2.10 1/4-2.19 1/4 per bushel.  Toledo US No 2 rail Yellow corn was 6 1/4
cents higher from 2.08 1/4-2.10 1/4 per bushel.  Minneapolis US No 2 Yellow Corn
rail no bid.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis was
6 1/2 cents lower from 2.01 1/2-2.03 1/2 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 not available per
cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was 37 cents higher at 3.91 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 7 to 12 cents higher from 3.55-3.69 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans no bid.  Illinois Processors US
No 1 Yellow truck soybeans were 17 1/4 to 21 1/4 cents higher from 5.79-5.86 per
bushel.  Kansas City US No 2 Yellow truck soybeans were 22 cents higher at 5.74
per bushel.  Decatur 48 percent Soybean meal, processor rail bid was 2.40 to
3.40 higher from 174.10-178.10 per ton.  Decatur crude Soybean oil processor bid
was 199 to 224 points higher from 24.25-24.75 cents per pound.  Sunflower Crude
Oil was steady to 54 points higher from 36.09-40.00 per pound.

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

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STAT News Service