USDA National Grain Review

ST. JOSEPH - Dec 8/06 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Dec 8.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were sharply lower.  After a couple to
several weeks of gains the grain markets finally pulled back.  Despite the
declines grain bids continue to be ahead compared to a year ago.  Wheat saw the
most losses as the lower grains, slow export news, chances of rain in the
southern plains next week, and fund selling triggered the weakness.  There were
overnight export announcements but were not enough to rally the market.  Weekly
export sales were reported at 408,400 tonnes as compared to trade estimates
300,000-500,000 tonnes.  Corn had a rough week seeing double digit losses early
and mid week.  Fund selling, lower energy markets, talk of increase plant
acreage for next year, good South American weather contributed to the losses.
Weekly export sales for corn were disappointing coming in at 812,700 tonnes as
compared to trade expectations 800,000-1.0 million.  Soybeans were no exception
and were pressured by neighboring pits, energy markets, and good South American
weather.  Weekly export sales were posted at 667,000 tonnes as compared to trade
estimates 600,000-800,000.
   Wheat was mostly 21-36 cents lower.  Corn was mostly 14-18 cents lower.
Sorghum was mostly 30-32 cents lower.  Soybeans were 21-26 cents lower.

EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

Taiwan                    Western White             5,530       Dec 28-Jan 11
                          Hard Red Winter          12,180       Dec 28-Jan 11
                          Dark Northern Spring     26,390       Dec 28-Jan 11
Egypt                     Soft white               60,000       Jan 5-16
Japan    U.S.       11.7 pct Hard Red Winter       49,000       Jan 5-Feb 15
                    14.0 pct Dark Northern Spring  56,000       Jan 5-Feb 15
                    10.5 pct Western White          5,000       Jan 5-Feb 15
      Canada        13.5 pct Western Red Spring    26,000
   Australia              Standard White           50,000
                          Prime Hard               20,000
CCC to Honduras     14.0 pct northern spring        4,500       Jan 22-Feb 1

Pvt. Ex. to South Korea   Corn                    110,000       06-07 Mkting Yr.
South Korea               Corn                    220,000       Apr-Jun

CCC to Sudan              Sorghum                  80,660       Dec 15-Jan 15

Pvt. Ex. to China         Soybeans                120,000       06-07 Mkting Yr.
Pvt. Ex. to Unknown       Soybeans                120,000       06-07 Mkting Yr.

CCC to Guatemala          Soybean Meal             10,000       Dec 20-30

Total:  U.S. Wheat 218,600 tonnes; Canadian 26,000 tonnes; Australian 70,000
tonnes.  Corn 330,000 tonnes.  Sorghum 80,660 tonnes.  Soybean Meal 10,000
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 36
1/2 cents lower from 5.27 3/4-5.58 3/4 per bushel.  Kansas City US No 2 Soft Red
Winter rail bid was 36 1/2 cents lower from 4.26 3/4-4.36 3/4 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 26 cents lower at 4.74 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 21 to 31 cents lower from 5.36-5.49 per bushel.
Portland US Soft White Wheat rail was 9 cents lower from 4.86-4.93 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 10 to 13 cents lower from
3.80-3.88 per bushel.  Kansas City US No 2 truck Yellow Corn was 14 to 16 cents
lower at 3.53 per bushel.  Omaha US No 2 truck Yellow Corn was 16 to 18 cents
lower from 3.33-3.39 per bushel.  Chicago US No 2 Yellow Corn was 16 1/2 to 17
1/2 cents lower from 3.40 1/2-3.55 1/2 per bushel.  Toledo US No 2 rail Yellow
corn was 18 cents lower from 3.48 1/2-3.52 1/2 per bushel.  Minneapolis US No 2
Yellow Corn rail was 17 cents lower at 3.22 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 3 1/4 to 5 1/4 cents higher from 2.72-2.77 per bushel.  US No 3 or
better rail malting Barley, 70 percent or better plump out of Minneapolis was 10
cents higher at 4.20 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 30 to 32 cents lower from
5.88-5.91 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid
to the farmer, fob elevator) was 13 to 32 cents lower from 6.47-6.51 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans no bid.  Illinois Processors US
No 1 Yellow truck soybeans were 21 1/2-23 1/2 cents lower from 6.52-6.62 per
bushel.  Kansas City US No 2 Yellow truck soybeans were 24 to 26 cents lower
from 6.37-6.39 per bushel.  Decatur 48 percent Soybean meal, processor rail bid
was 2.90 to 4.90 lower from 178.50-188.50 per ton.  Decatur crude Soybean oil
processor bid was 70 to 95 points lower from 26.98-28.48 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