USDA National Grain Review

ST. JOSEPH - Sep 1/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Sep 1.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Grain bids higher for the second consecutive week but soybeans came up a
little short.  Compared to last week:  Wheat 7 to 19 cents higher with St. Louis
soft winter wheat up 38 cents.  Corn 3 to 11 cents higher with Minneapolis up
nearly 20 cents.  Sorghum 2 to 7 cents higher.  Soybeans 4 to 9 cents lower.
   Wheat bids substantially higher again this week as advances for soft winter
wheat pulling up prices for all classes.  Soft winter wheat at St. Louis up 53
cents in the past two weeks.  Traders feel that wheat must get some more exports
to hold these price advances.  There is talk that China and India are looking
for wheat and the US may be competitive.  Weekly export figures this week were
near the top end of expectations and there is a good volume of announcements
listed below.  Some farmers have a bitter-sweet feeling as harvest is all but
done and prices start soaring.  However, they are getting the drills out and
going full blast on winter wheat seeding.
   Corn higher in pre-harvest trade.  Drought conditions prevail in large areas
of the nation, but this is mostly in grass and cattle country.  The heart of the
cornbelts and real corn country looking good and many are estimating over 250
bushel per acre average for this year’s crop.  This with large carry-overs will
not make for short supplies.  However, continued good export orders and ethanol
productions could draw down on stock holdings.  Not bad export announcements
this week.  Sorghum failed to follow corn’s price advances fully this week after
last week’s sharp upturn.  However, Gulf bids sharply higher for this commodity
late in the week.
   Soybeans just not getting the export orders and positive news like the other
commodities.  Bids are 60 cents under a year ago even with the hurricanes
closing New Orleans ports export facilities at this time a year ago.  It looks
like LDP’s will be a player in this falls soybean trade.  Farmer holdings will
probably be large again this year but elevator storage cost has gone up to 4
cents a bushel per month and this will eat away price upturns rapidly.  No
soybean announcements on the books this week and only a meager soybean meal.

EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

CCC to Ethiopia           HRWW                    133,190       Sep 15-Oct 15
CCC Georgia               HRWW                      8,000       Sep 15-25
WCCU to Kenya             Wheat                    26,610       Mkt Yr 07
Japan                     11.7 HRWW                25,000       Oct 1-10
                          14.0 Dark N. Spring      41,000

FP to Honduras            Yellow Corn              18,000       Mkt Yr 06
Taiwan                    Corn                     60,000       Oct 8-23/Gulf
                                                                or Oct 23/PNW
South Korea               Corn                     55,000       Dec 10

FP to Honduras            Soybean Meal              6,000       Mkt Yr 06

Totals:  Wheat 233,800.  Corn 133,000.  Soybeans Meal 6,000 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 19
1/4 to 25 1/2 cents higher from 4.14 1/4-5.48 1/4 per bushel.  Kansas City US No
2 Soft Red Winter rail bid was 16 1/4 cents higher from 3.73 1/4-3.93 1/4 per
bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 38 cents
higher at 3.64 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring,
14.0 to 14.5 percent protein rail, was 7 1/4-17 1/4 cents higher to from 4.88
1/4-5.8 1/4 per bushel.  Portland US Soft White Wheat rail was 11 cents higher
at 4.08 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 3 to 5 cents higher from 2.27-
2.31 per bushel.  Kansas City US No 2 truck Yellow Corn was 4 cents higher at
2.16 per bushel.  Omaha US No 2 truck Yellow Corn was 4 to 5 cents higher from
2.07-2.08 per bushel.  Chicago US No 2 Yellow Corn was 4 1/2-11 1/2 cents higher
from 2.12-2.15 per bushel.  Toledo US No 2 rail Yellow corn was 3 1/2 to 9 1/2
cents higher from 2.11-2.25 per bushel.  Minneapolis US No 2 Yellow Corn rail
was 19 1/2 cents higher at 2.00 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 5 3/4 cents higher from 2.07 3/4-2.10 3/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents
higher at 3.20 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 2 cents higher at 3.80 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 5 to 7 cents higher from 3.75-4.00 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 7 1/4 cents lower at 4.85
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 4 1/4 to
7 1/4 cents lower from 5.31 3/4-5.37 3/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 9 cents lower at 5.20 per bushel.  Decatur 48 percent
Soybean meal, processor rail bid was 2.60-4.60 lower from 155.20-165.20 per ton.
Decatur crude Soybean oil processor bid was 13 points higher from 23.96-24.81
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