USDA National Grain Review

ST. JOSEPH - May 5/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 5.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were mostly higher.  Last weekend the
southern plains received heavy rain with the most concentration in central and
eastern areas of the HRW wheat belt.  The western sections received less rain
than expected which lend support in the pits.  The winter wheat crop conditions
report was also a benefactor in the market coming in at 36 percent in good to
excellent condition as compared to 39 percent last week and 63 percent a year
ago.  Late in the week Iraq cancelled 100,000 tonnes of U.S. wheat limiting the
upside.  Weekly export sales were good coming in at 574,300 tonnes as compared
to trade expectations 250,000-400,000 tonnes.
   The heavy rain experienced in the southern plains moved into the western and
central corn-belt delaying plantings.  The rain accumulation varied from a trace
to a couple of inches halting work in the field.  However, by the end of the
week farmers were back in the field in full swing.  Over half of the corn crop
is on the ground and some farmers already starting on soybeans.  Planting
progress early in the week was reported at 52 percent of the corn complete as
compared to 25 percent last week and 49 percent last year.  Weekly export sales
were good coming in at 1.282 million tonnes as compared to trade estimates
650,000-850,000 tonnes.
   Soybeans saw modest gains finding support from outside markets and lower
Brazilian production forecast which was down to 55.2 million tonnes as compared
to 55.7 million before.  In Brazil farmer protests are starting to paralyze some
crush processing operations due to the lack of soybeans.  Soybean planting
progress was reported better than expected at 10 percent complete as compared to
trade estimates 4-8 percent and 8 percent last year.  Weekly export sales were
posted at 182,500 tonnes as compared to trade expectations 100,000-250,000
tonnes.
   Wheat was 4-10 cents higher.  Corn was 11 cents lower to 3 cents higher.
Sorghum was 2-5 cents higher.  Soybeans were 9-17 cents higher.

EXPORT SALES:
PURCHASER               COMMODITY                    TONNAGE    DELIVERY DATE

Taiwan                  Corn                          61,000    Jun 9-23

Total:  Corn 61,000 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 9
1/4 cents higher from 4.62 1/2-4.94 1/2 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 7 1/4 cents higher from 4.11 1/2-4.31 1/2 per bushel.
St. Louis truck US No 2 Soft Red Winter terminal bid was 4 cents higher at 3.51
per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 10 cents higher from 4.82-4.97 per bushel.  Portland
US Soft White Wheat rail was 6 to 8 cents higher from 3.64-3.72 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 3 to 5 cents lower from 2.41-
2.44 bushel.  Kansas City US No 2 truck Yellow Corn was 1 cent higher at 2.12
per bushel.  Omaha US No 2 truck Yellow Corn was 3 cents lower from 2.00-2.02
per bushel.  Chicago US No 2 Yellow Corn was 3 cents lower to 3 cents higher
from 2.21 1/4-2.28 1/4 per bushel.  Toledo US No 2 rail Yellow corn was 11 cents
lower to 1/2 cent higher from 2.18 1/4-2.12 1/4 per bushel.  Minneapolis US No 2
Yellow Corn rail was 6 cents lower at 1.99 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 4 3/4 cents higher from 2.11 1/2-2.14 1/2 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 5 cents higher at 3.73 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 2 to 5 cents higher from 3.75-3.86 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 9 1/2 cents higher at 5.58
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 13 1/2
to 17 1/2 cents higher from 5.87 3/4-5.90 3/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 9 cents higher at 5.74 per bushel.  Decatur 48
percent Soybean meal, processor rail bid was 5.40 higher from 174.30-182.30 per
ton.  Decatur crude Soybean oil processor bid was 14 points higher from 24.31-
25.21 cents per pound.  Sunflower Crude Oil was steady to 95 points higher from
38.23-40.00 per pound.

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

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