USDA National Grain Review

ST. JOSEPH - Apr 7/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Apr 7.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids closed higher for the exception of
soybeans which were lower.  Last Friday’s USDA report set the tone for the
grains markets and spilled over early in the week.  Other factors sparking the
wheat trade were dry outlook for the western parts of the southern plains and
fears of late planting in the northern plains due to heavy rains.  The first
crop ratings of the season came in at 38 percent in good to excellent condition
as compared to 68 percent last year.  Weekly export sales came in at 274,600
tonnes as compared to 250,000-400,000 tonnes.  The wheat report last week was
bullish with spring wheat planting intentions coming in at 13.899 million acres
as compared to trade estimates 14.19 million and 14.036 million acres last year.
Total wheat plantings were reported at 57.128 million acres compared to 58.233
million expected.  March 1st wheat stocks came in at 972.2 million bushels as
compared to average trade estimate 973 million and 984 million bushels last
year.
   Corn was higher most of the week as the market posted the most gains seen in
a while.  Severe thunderstorms last weekend and this week have poured heavy rain
in many locations of the corn-belt, improving soil condition ahead of planting
season.  Field work has been delayed in the southern parts of the Midwest due to
the wet conditions.  Weekly export sales were reported at 659,400 tonnes as
compared to 700,000-1.0 million tonnes.  The corn planted acreage numbers last
week were bullish coming in at 78.02 million acres as compared to 80.5 million
acres the lowest since 2001.  Last year’s plantings were at 81.8 million acres.
March 1st stocks came in at 6.987 billion bushels as compared to average trade
estimates 6.985 billion and 6.756 billion bushels last year.
   Soybeans closed on a negative note due to improved soil moisture across the
Midwest, South American harvest, and bearish USDA report.  Weekly export sales
were good coming in at 368,800 tonnes as compared to trade estimates 200,000-
350,000 tonnes.  Soybean plantings were disappointing coming in at 76.89 million
acres as compared to average trade estimates 74.21 million which is a new record
high.  Last year’s plantings were at 72.1 million acres.  March 1st stocks came
in at 1.669 billion bushels as compared to average trade estimates 1.68 billion
bushels and 1.381 billion last year.
   Wheat was 7-19 cents higher with Minneapolis 23 cents higher.  Corn was 12-22
cents higher.  Sorghum was 24-35 cents higher.  Soybeans were 23-24 cents lower.

EXPORT SALES:
PURCHASER               COMMODITY                    TONNAGE    DELIVERY DATE

CCC to Haiti      12.0 pct Hard Red Winter             8,300    May 8-18
Malta 	            Hard Red Spring               10,000    June

Taiwan                  Yellow Corn                   23,000    May

Taiwan                  Soybeans                      12,000    May

Total:  Wheat 18,300 tonnes.  Corn was 23,000 tonnes.  Soybeans 12,000 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 13
1/4 to 17 1/4 cents higher from 4.63-4 95 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 19 1/4 cents higher from 4.24-4.44 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 9 cents higher at 3.42 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 23 1/2 cents higher from 4.91 3/4-5.01 3/4 per bushel.
Portland US Soft White Wheat rail was 7 to 10 cents higher from 3.59-3.65 per
bushel.

   CORN:  Kansas City US No 2 rail White Corn was 20 to 21 cents higher from
2.41-2.43 bushel.  US No 2 truck Yellow Corn was 22 cents higher at 2.22 per
bushel.  Omaha US No 2 truck Yellow Corn was 12 cents higher at 2.12 per bushel.
Chicago US No 2 Yellow Corn was 12 3/4 to 13 3/4 cents higher from 2.19 1/2-2.29
1/2 per bushel.  Toledo US No 2 rail Yellow corn was 14 3/4 to 17 3/4 cents
higher from 2.17 1/2-2.23 1/2 per bushel.  Minneapolis US No 2 Yellow Corn rail
has no comparison at 2.08 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 3/4 cents higher from 1.96-1.99 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was steady at 2.90
per bushel.  Portland US 2 Barley, unit trains and Barges-export was not
available per cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was 25 cents higher at 3.88 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 24 to 35 cents higher from 3.80-3.88 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 23 3/4 cents lower at 5.24
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 23 3/4 cents
lower from 5.46-5.54 per bushel.  Kansas City US No 2 Yellow truck soybeans were
24 cents lower at 5.44 per bushel.  Decatur 48 percent Soybean meal, processor
rail bid was 6.70 lower from 170.70-175.70 per ton.  Decatur crude Soybean oil
processor bid was 60 to 75 points lower from 21.67-22.57 cents per pound.
Sunflower Crude Oil was steady to 49 points lower from 30.92-40.00 per pound.

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

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STAT News Service