USDA National Grain Review

ST. JOSEPH - Feb 2/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Feb 2.

WEEKLY NATIONAL GRAIN MARKET REVIEW


   For the week wheat bids closed on a mix note.  Pressure stem from the lower
corn and favorable weather in the hard red winter wheat region early in the
week.  However, talk of possible damage to wheat in the southern part of the
Midwest lend support.   Temperatures across the Midwest this week have been
frigid and snow cover has mostly melted from last week’s warmer weather.
Another front is moving in for the weekend and temperatures are expected to stay
the same.  Weekly export sales for wheat came in at 560,500 tonnes as compared
to trade estimates 450,000-650,000.  Corn saw a pull back due to talk of
increased acreage for corn as prices remain high.  However, that news sparked
the soybean market as lost acreage would mean tight supplies.  Weekly export
sales for corn were good coming in at 798,800 tonnes as compared to trade
expectations 600,000-800,000.  Soybean weekly export sales were posted at
682,400 as compared to trade estimates of 450,000-650,000 tonnes which were
above expectations.  Wheat was 11 cents lower to 5 cents higher.  Yellow corn
was 5-9 cents lower, with KC white corn 2-5 cents higher.  Sorghum was 4-16
cents lower.  Soybeans were 8-11 cents higher.

EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

Pvt. Ex. to Unknown       White Wheat             110,000       07-08 Mkting Yr.
Egypt                     Soft Red                120,000       Feb 20-28
Pvt. Ex. to Iraq          Hard Red Winter         100,000       06-07 Mkting Yr.
South Korea         11.5 pct Hard Red Winter        6,300       Mar 10-Apr 10
                    14.0 pct Dark Northern Spring   3,500       Mar 10-Apr 10
                    10.5 pct Soft White             3,800       Mar 10-Apr 10
                    10.0 pct Soft White             4,800       Mar 10-Apr 10
                     9.5 pct Soft White             2,300       Mar 10-Apr 10
                     8.5 pct Soft White               800       Mar 10-Apr 10
Taiwan                    Hard Red Winter          18,640       Mar
                          Dark Northern Spring     50,260       Mar
                          White Wheat              11,250       Mar
CCC to Nicaragua    13.5 pct Northern Spring        5,450       Feb 14-24

Taiwan                    Corn                     60,000       Mar
Taiwan                    Corn                     23,000       Feb-Mar

Taiwan                    Soybeans                 12,000       Feb 21-Mar 7

Total:  Wheat 437,100 tonnes.  Corn 83,000 tonnes.  Soybeans 12,000 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 6
1/2 cents lower from 5.22 1/2-5.47 1/2 per bushel.  Kansas City US No 2 Soft Red
Winter rail bid was 6 1/2 cents lower from 4.32 1/2-4.42 1/2 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 11 cents lower at 4.28 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 1 1/2 cents higher at 5.33 1/2 per bushel.  Portland
US Soft White Wheat rail was 2 to 5 cents higher from 5.09-5.12 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 2 to 5 cents higher from 4.64-
4.68 per bushel.  Kansas City US No 2 truck Yellow Corn was 9 cents lower at
3.81 per bushel.  Omaha US No 2 truck Yellow Corn was 6 to 7 cents lower from
3.70-3.73 per bushel.  Chicago US No 2 Yellow Corn was 8 cents lower from 3.71-
3.85 per bushel.  Toledo US No 2 rail Yellow corn was 5 to 6 cents lower from
3.75-3.77 per bushel.  Minneapolis US No 2 Yellow Corn rail was 9 cents lower at
3.56 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 8 3/4 to 10 3/4 cents lower at 2.70-2.72 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 10 cents
lower 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 16 cents lower at 6.48 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 4 to 6 cents lower from 6.84-6.96 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans no bid.  Illinois Processors US
No 1 Yellow truck soybeans were 8 1/4 to 11 1/4 cents higher from 6.96 1/2-7.06
1/2 per bushel.  Kansas City US No 2 Yellow truck soybeans were 9 cents higher
at 6.87 per bushel.  Decatur 48 percent Soybean meal, processor rail bid was
2.30 to 3.30 lower from 189.90-193.90 per ton.  Decatur crude Soybean oil
processor bid was 16 to 41 points higher from 27.83-28.83 cents per pound.
Sunflower Oil was not available.

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

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