USDA National Grain Review

ST. JOSEPH - Jun 2/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jun 2.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week wheat bids closed on a negative tone, while most other grains
were higher.  In the Texas panhandle winter wheat harvest is picking up.  In
Kansas temperatures were hot and light scattered rains were reported causing
more concerns of crop deterioration.  The spring wheat is growing good in the
North as the area received favorable weather.  Spring wheat crop ratings came in
at 73 percent in good to excellent condition as compared to 76 percent last week
and 77 percent last year.  Corn was mix and soybeans saw solid gains as the
market recovered some losses from last week.  Parts of the corn-belt received
moisture and warm weather this week for beneficial growth.  However, the western
corn-belt has received very little moisture and some concerns of dryness are
creeping up.  Ethanol and bio-diesel demand in the U.S. is growing lending
support to the market.  Crop ratings for corn were reported at 70 percent in
good to excellent condition as compared to 66 percent last week and 62 percent a
year ago.  Soybean progress was reported at 79 percent complete.  Wheat was 3-21
cents lower except Minneapolis 11-14 cents higher.  Corn was 7 cents lower to 3
cents higher.  Sorghum was 2-4 cents higher.  Soybeans were 3-13 cents higher.

EXPORT SALES:
PURCHASER              COMMODITY                  TONNAGE         DELIVERY DATE

Taiwan               Western White                  4,730          Jun 15-30
                     Hard Red Winter               12,100          Jun 15-30
                     Dark Northern Spring          28,700          Jun 15-30

South Korea          Yellow Corn                  110,000          Sep-Oct

Total:  Wheat 45,530 tonnes.  Corn 110,000 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 15
1/4 cents lower from 5.07 1/2-5.43 1/2 per bushel.  Kansas City US No 2 Soft Red
Winter rail bid was 21 1/4 cents lower from 4.39 1/2-4.59 1/2 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 11 cents lower at 3.64 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 14 to 11 cents higher from 5.49-5.64 per bushel.
Portland US Soft White Wheat rail was 2 to 3 cents lower from 3.80-3.82 per
bushel.

   CORN:  Kansas City US No 2 rail White Corn was 1 cent lower to 2 cents higher
from 2.48-2.54 per bushel.  Kansas City US No 2 truck Yellow Corn was 1 cent
lower to 2 cents higher at 2.30 per bushel.  Omaha US No 2 truck Yellow Corn was
2 to 3 cents higher from 2.15-2.16 per bushel.  Chicago US No 2 Yellow Corn was
7 3/4 cents lower to 1 1/4 cent higher from 2.30 1/2-2.40 1/2 per bushel.
Toledo US No 2 rail Yellow corn was 1 1/4 to 2 1/4 cents higher from 2.35 1/2-
2.45 1/2 per bushel.  Minneapolis US No 2 Yellow Corn rail was 1 1/4 cents
higher at 2.07 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 13 1/4 to 14 1/4 cents higher from 2.13 3/4-2.16 3/4 per bushel.  US No
3 or better rail malting Barley, 70 percent or better plump out of Minneapolis
was steady at 3.00 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 4 cents higher at 4.29 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 2 cents higher from 4.04-4.19 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 7 1/2 cents higher at 5.32
3/4 bushel.  Illinois Processors US No 1 Yellow truck soybeans were 3 1/2 to 4
1/2 cents higher from 5.68 3/4-5.72 3/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 13 cents higher at 5.67 per bushel.  Decatur 48 percent
Soybean meal, processor rail bid was 70 cents to 1.70 higher from 171.20-175.20
per ton.  Decatur crude Soybean oil processor bid was 6 to 12 points higher from
23.90-24.96 cents per pound.  Sunflower Oil was not available.

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

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