USDA National Grain Review

ST. JOSEPH - Aug 4/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 4.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were slight to moderately higher
except wheat which was mix.  Wheat was up and down all week finding
support from tight global stocks and good export news.  However, pressure
was noted as talk of harvest pressure in the spring wheat areas due to
hot and dry conditions.  The spring harvest was reported at 22 percent
complete early in the week as compared to 7 percent last year.  Weekly
export sales were above expectations coming in at 583,400 tonnes.
   Weather concerns in the first part of the week lead to the higher corn
and soybeans.  Last weekend through early in the week temperatures across
the corn-belt were up in the three digit readings stressing crops.  The
hot weather and no rain took a toll on crop conditions which were down 3
percent from last week at 56 percent in good to excellent condition for
corn and only 1 percent lower for soybeans at 53 percent.  Later in the
week relief was in sight as thunderstorms moved in, along with cooler
temperatures easing crop concerns.  The welcoming rain and cooler
conditions pressured the board on Thursday.  Weekly export sales for corn
were good coming in at 1,602,100 tonnes and soybeans came in line with
expectations at 270,300 tonnes.
   Wheat was 27 cents lower to 11 cents higher.  Corn was mostly 4-9
cents higher.  Sorghum was 12-14 cents higher.  Soybeans were 1-6 cents
higher.

EXPORT SALES:
PURCHASER             COMMODITY                 TONNAGE     DELIVERY DATE

Taiwan                Hard Red Winter            30,650     Sep 3-Oct 5
                      Dark Northern Spring       54,290     Sep 3-Oct 5
                      White Wheat                11,400     Sep 3-Oct 5
CCC to Pakistan       Soft White                  3,870     Aug 14-21
CCC to Afghanistan    Soft White                 14,630     Aug 14-21
Japan     U.S.   11.7 pct Hard Red Winter        16,000     Sep-Oct
                 14.0 pct Dark Northern Spring   44,000     Sep-Oct
       Canada    13.5 pct Western Red Spring      7,000
                 13.0 pct Western Amber Durum    18,000
    Australia    13.0 or 14.0 pct Prime Hard     20,000
                      Standard White             43,000

Taiwan                Corn                       48,000     Sep-Oct

CCC to Vietnam        Soybean Meal               10,450     Aug 16-26
CCC to Philippines    Soybean Meal               11,600     Aug 16-26

Total:  U.S. Wheat 174,840 tonnes; Canadian 25,000 tonnes; Australian
63,000 tonnes.  Corn 48,000 tonnes.  Soybean Meal 22,050 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 pct rail bid was
1 cent lower from 4.92 1/2-5.15 1/2 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 6 cents lower from 3.59 1/2-3.79 1/2 per bushel.
St. Louis truck US No 2 Soft Red Winter terminal bid was 11 cents higher
at 3.30 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring,
14.0 to 14.5 percent pct rail, was 17 to 27 cents lower from 5.01-5.16
per bushel.  Portland US Soft White Wheat rail was 7 to 8 cents higher
from 3.92-3.96 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 7 cents higher from
2.44-2.47 per bushel.  Kansas City US No 2 truck Yellow Corn was 8 cents
higher at 2.25 per bushel.  Omaha US No 2 truck Yellow Corn was 8 to 9
cents higher from 2.16-2.17 per bushel.  Chicago US No 2 Yellow Corn was
4 1/4 to 7 1/4 cents higher from 2.25-2.28 per bushel.  Toledo US No 2
rail Yellow corn was 7 1/4 to 13 1/4 cents higher from 2.21-2.37 per
bushel.  Minneapolis US No 2 Yellow Corn rail was 6 1/4 cents higher at
1.86 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at
Minneapolis 20 day was 5 cents lower 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 3.10 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 14 cents higher at
4.05 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or
bid to the farmer, fob elevator) was 12 to 14 cents higher from 3.88-4.02
per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 6 1/4 cents higher
at 5.08 1/2 per bushel.  Illinois Processors US No 1 Yellow truck
soybeans were 1 1/2 to 3 1/2 cents higher from 5.55 1/2-5.67 1/2 per
bushel.  Kansas City US No 2 Yellow truck soybeans were 2 cents higher at
5.60 per bushel.  Decatur 48 percent Soybean meal, processor rail bid was
1.30 lower from 158.90-165.90 per ton.  Decatur crude Soybean oil
processor bid was 85 points higher from 25.47-26.47 cents per pound.
Sunflower Oil was not available.

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

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