USDA National Grain Review

ST. JOSEPH - Sep 13/02 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Sep 13.

  
WEEKLY NATIONAL GRAIN MARKET REVIEW

   Grain and soybean bids closed the week sharply higher in reaction to USDA’s 
production report released Thursday.  Good export demand offered support to all 
commodities with Japan, South Korea, and China the major purchasers.  Wheat 8 to 
21 cents higher with Portland up to 32 cents higher.  Corn 2 to 9 cents higher.  
Sorghum 4 to 20 cents higher.  Soybeans 1 to 16 cents higher.  
   Wheat bids found support from soaring corn and bean trading this week.   
   USDA forecast Corn production at 8.85 billion bushels, less than 1 percent
below last month but 7 percent below 2001.  Soybean production was set at
2.66 billion bushels, 1 percent above last month but 8 percent below last 
year.  If realized, both corn and bean production would be their lowest since
1995 and 1999 respectively.  Corn harvest underway in many places and long lines 
being seen at elevators, especially with prices on the rise.  

EXPORT SALES:
PURCHASER               COMMODITY                 TONNAGE      DELIVERY DATE
South Korea    Soft White Wheat                   16,200          Nov-Dec
               11.5 pct Hard Red Winter Wheat      4,100       
               14.0 pct Dark Northern Spring Wheat 7,100
Philippines    Soft White Wheat                   23,000          Sep-Oct
               Dark Northern Spring Wheat         33,000            
South Korea    11.5 pct Hard Red Winter Wheat      8,600           
              14.0 Dark Northern Spring Wheat     12,850          Oct-Jan
              Soft White Wheat                    26,300
CCC Angola    11.0 pct Hard Red Winter Wheat       7,740          Dec
Japan         11.7 pct Hard Red Winter Wheat      32,000          Nov 
              14.0 pct Dark Northern Spring Wheat 36,800
              Western White Wheat                 28,000  
Mexico             Corn                          120,000          02/03 CY
Japan         Feed Barley                         20,000          Nov
              Malting Barley                       3,200 
CCC to Eritrea     Sorghum                        14,400          Sep-Oct
China              Soybeans                      112,000          02/03 CY

Totals:  Wheat 214,990 tonnes.  Corn 120,000 tonnes.  Sorghum 14,400 tonnes.
Barley 23,200 tonnes.  Soybeans 112,000 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 US No 1 Hard Red Winter, ordinary protein rail bid 17 1/4 to 8 
1/4 cents higher from 5.01 1/2-5.11 1/2 per bushel.  Kansas City US No 2 Soft 
Red Winter rail bid 18 1/4 cents higher from 4.39 1/2-4.69 1/2 per bushel.  St. 
Louis truck US No 2 Soft Red Winter terminal bid 10-42 cents higher at 3.94-4.26 
per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0-14.5 
percent protein rail, 8 to 21 cents higher at 5.16 1/4-5.34 1/4 per bushel.  
Portland US Soft White Wheat, 30 to 32 cents higher from 4.60-4.65 per bushel.
  
   CORN:  Kansas City US No 2 rail White Corn 3 to 5 cents higher from 3.03-3.09 
per bushel.  US No 2 truck Yellow Corn 3 to 4 cents higher from 2.71-2.73 per 
bushel.  Omaha US No 2 truck Yellow Corn 2 to 3 cents higher at 2.70-2.71 per 
bushel.  Chicago US No 2 Yellow Corn truck/rail bid 3 3/4 to 9 1/4 cents higher 
from 2.73 1/4-2.83 1/4 per bushel.  Toledo US No 2 rail Yellow corn 3 1/4 to 4 
1/4 cents higher from 2.74 1/4-2.78 1/4 per bushel.  Minneapolis US No 2 Yellow 
Corn rail, 1/4 cent lower at 2.65 1/4  per bushel. 
  
   OATS AND BARLEY:  US 2 or Better rail Oats at Minneapolis, 8 to 11 cents 
higher from 2.22 1/4.  US No 3 or better truck Malting Barley, 70 percent or 
better plump out of Minneapolis 15 cents higher at 2.85.  Portland US 2 Barley, 
unit trains and Barges-export 45 cents higher from 6.05-6.15 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City 4 cents higher at 5.06 per cwt.  
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob 
elevator) 16 to 20 cents higher from 4.70-4.92 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 1 cent higher to 
4 cents lower from 5.78 1/4-6.03 1/4 per bushel.  Kansas City US No 2 Yellow 
truck soybeans 14 to 16 cents higher from 5.94 per bushel.  Minneapolis Yellow 
truck soybeans 14 cents higher at 5.68 1/4 per bushel.  Decatur 48 percent 
soybean meal, processor rail bid .50 to 2.50 higher from 189.50-190.50 per ton.  
Decatur crude Soybean oil processor bid 4 points lower from 20.13-20.63 cents 
per pound.  Sunflower Crude Oil was not available due to a lack of supply.  
  
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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STAT News Service

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