USDA National Grain Review

ST. JOSEPH - Aug 11/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 11.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were mostly lower.  Wheat was pressured
by the lower corn and soybeans, along with some additional pressure from
advancing harvest in the spring wheat areas.  The spring wheat harvest is at 49
percent complete early in the week.  Weekly export sales for wheat were reported
at 395,600 tonnes which were within expectations.  Wet weather in the dry areas
of the Midwest and improved crop conditions pressured corn and soybeans.
Temperatures were hot early in the week then turning moderate late in the week
across the corn-belt.  Corn crop ratings came in at 57 percent in good to
excellent condition up 1 percent from last week and soybeans were unchanged at
53 percent in good to excellent condition.  Corn weekly export sales were above
expectations coming in at 1.162 million for old crop and 555,900 new crop.
Weekly export sales for soybeans were also above expectations coming in at
274,600 tonnes old crop and 266,500 tonnes new crop.
   Wheat was 12 cents lower to 6 cents higher.  Corn was mostly 2-7 cents lower.
Sorghum was 10-18 cents lower.  Soybeans were 14-22 cents lower.

EXPORT SALES:
PURCHASER                 COMMODITY                  TONNAGE    DELIVERY DATE

Japan      U.S.     11.7 pct Hard Red Winter          20,000    Oct
                    14.0 pct Dark Northern Spring     20,000    Oct
                    10.5 pct Western White            20,000    Oct
         Canada           Western Red Spring          25,000
      Australia           Standard White              30,000
South Korea         11.5 pct Hard Red Winter          14,600    Sep 20-Nov 10
                    14.0 pct Dark Northern Spring     14,200    Sep 20-Nov 10
                    14.5 pct Dark Northern Spring      2,500    Sep 20-Nov 10
                    10.5 pct Soft White                7,800    Sep 20-Nov 10
                    10.0 pct Soft White               15,000    Sep 20-Nov 10
                     9.5 pct Soft White                6,800    Sep 20-Nov 10
                     8.5 pct Soft White                2,000    Sep 20-Nov 10

Pvt. Ex. to Mexico        Corn                       160,000    06-07 Mkting Yr.

South Korea               Soybeans                    45,000    Oct 25
Pvt. Ex. to China         Soybeans                   226,000    06-07 Mkting Yr.

CCC to Honduras           Soybean Meal                 5,185    Nov 20-30

Total:  U.S. Wheat 122,900 tonnes; Canadian 25,000 tonnes; Australian 30,000
tonnes.  Corn 160,000 tonnes.  Soybeans 271,000 tonnes.  Soybean Meal 5,185
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 7 1/4
to 12 1/4 cents lower from 4.85 1/4-5.03 1/4 per bushel.  Kansas City US No 2
Soft Red Winter rail bid was 5 1/4 cents lower from 3.54 1/4-3.74 1/4 per
bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 2 cents lower
at 3.28 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0
to 14.5 percent pct rail, was 3 1/4 cents lower to 6 1/4 cents higher from 5.07
1/4-5.12 1/4 per bushel.  Portland US Soft White Wheat rail was steady to 5
cents higher from 3.92-4.01 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 5 to 7 cents lower from 2.39-
2.40 per bushel.  Kansas City US No 2 truck Yellow Corn was 6 cents lower at
2.19 per bushel.  Omaha US No 2 truck Yellow Corn was 5 to 6 cents lower from
2.10-2.12 per bushel.  Chicago US No 2 Yellow Corn was 7 1/4 to 12 1/4 cents
lower from 2.12 3/4-2.20 3/4 per bushel.  Toledo US No 2 rail Yellow corn was 2
1/4 to 4 1/4 cents lower from 2.18 3/4-2.32 3/4 per bushel.  Minneapolis US No 2
Yellow Corn rail was 5 3/4 cents higher at 1.91 3/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 8 3/4 cents lower from 2.05-2.08 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 10 cents lower at 3.95 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 12 to 18 cents lower from 3.76-3.84 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 14 1/4 cents lower at 4.94
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 19 1/4
to 21 1/4 cents lower from 5.34 1/4-5.48 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 22 cents lower at 5.38 per bushel.  Decatur 48
percent Soybean meal, processor rail bid was 5.30 to 6.30 lower from 153.60-
159.60 per ton.  Decatur crude Soybean oil processor bid was 52 points lower
from 24.95-25.95 cents per pound.  Sunflower Oil was not available.

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

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STAT News Service