USDA National Grain Review

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

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Grain and soybean bids for the week closed moderate to sharply higher.  Wheat
found support from declining crop conditions, good weekly export sales, and a
weak dollar, along with dry weather outlook in the southern plains.  The
southern plains and many parts of the Midwest received there first taste of
winter this season with freezing temperatures and heavy snow reported.  Winter
wheat crop conditions came in at 53 percent in good to excellent condition as
compared to 57 percent last week.  Weekly export sales for wheat came in at
547,800 tonnes as compared to trade expectations 300,000-450,000.
   Corn saw modest gains reaching up to 3.70 per bushel in certain areas as
compared to 1.64-1.90 per bushel a year ago across the Midwest.  Good weekly
export sales, strength in the energy markets, good demand and fund buying lend
support in the pits.  Weekly export sales were reported at 1.083 million tonnes
as compared to trade estimates 800,000-1.0 million.
   Soybeans saw another week of solid gains as the market reacted to the weak
dollar, higher corn, and positive demand news.  Weekly export sales were also
supportive.  The winter weather that moved into the plains and Midwest on
Thursday is keeping traders hopeful in a boost in feed demand.  Exports were
non-existent but with a weak dollar U.S. soybeans are looking more attractive.
Weekly export sales came in at 789,400 tonnes as compared to trade expectations
of 500,000-700,000.
   Wheat was mostly 14-35 cents higher.  Corn was 13-17 cents higher.  Sorghum
was 25-26 cents higher.  Soybeans were 11-13 cents higher.

EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

CCC to Chad               Soft White               11,270       Dec 15-30
South Korea         11.5 pct Hard Red Winter        3,500       Jan 20-Feb 20
                    14.0 pct Dark Northern Spring   8,800       Jan 20-Feb 20
                    10.5 pct Western/Soft White     7,200       Jan 20-Feb 20
                     8.5 pct Western/Soft White     1,700       Jan 20-Feb 20
Japan     U.S.      11.7 pct Hard Red Winter       29,000       Jan
                    14.0 pct Dark Northern Spring  31,000       Jan
                    10.5 pct Western White         40,000       Jan
       Canada       13.5 pct Western Red Spring    20,000       Jan
    Australia             Standard White           20,000       Jan

Pvt. Ex. to China         Soybean Oil              30,000       06-07 Mkting Yr.

Total:  U.S. Wheat 132,470 tonnes; Canadian 20,000 tonnes; Australian 20,000
tonnes.  Soybean Oil 30,000 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 22
1/4 to 24 1/4 cents higher from 5.64 1/4-5.95 1/4 per bushel.  Kansas City US No
2 Soft Red Winter rail bid was 25 1/4 to 35 1/4 cents higher from 4.63 1/4-4.73
1/4 per bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 33
cents higher at 5.00 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 14 1/2 to 16 1/2 cents higher
from 5.67-5.70 per bushel.  Portland US Soft White Wheat rail was 5 to 8 cents
higher from 4.95-5.02 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 13 cents higher from 3.93-3.98
per bushel.  Kansas City US No 2 truck Yellow Corn was 14 to 16 cents higher
from 3.67-3.69 per bushel.  Omaha US No 2 truck Yellow Corn was 16 to 17 cents
higher from 3.51-3.55 per bushel.  Chicago US No 2 Yellow Corn was 13 1/4-16 1/4
cents higher from 3.57-3.73 per bushel.  Toledo US No 2 rail Yellow corn was 14
3/4 to 16 3/4 cents higher from 3.66 1/2-3.70 1/2 per bushel.  Minneapolis US No
2 Yellow Corn rail was 13 3/4 cents higher at 3.39 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 2 cents higher from 2.68 3/4-2.71 3/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 25 cents
higher at 4.10 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 25 to 26 cents higher from
6.20-6.21 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid
to the farmer, fob elevator) has no comparison but bids were from 6.60-6.83 per
cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans no bid.  Illinois Processors US
No 1 Yellow truck soybeans were 11 1/2-13 1/2 cents higher from 6.73 1/2-6.85
1/2 per bushel.  Kansas City US No 2 Yellow truck soybeans were 12 cents higher
at 6.63 per bushel.  Decatur 48 percent Soybean meal, processor rail bid was 70
cents lower to 1.30 higher from 183.40-191.40 per ton.  Decatur crude Soybean
oil processor bid was 31 points higher from 27.93-29.18 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