USDA National Grain Review

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

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were moderate to sharply lower.  The
grain markets were unstable this week as different factors came into play.
Early in the week the financial markets took a plunge spilling over into the
commodities market sending grains into double digit losses.  In the central and
southern plains moisture conditions improved as the region received rain.
Spring is just around the corner and the HRW wheat will be out of dormancy.
Corn continues to be affected by talk of increased plantings this year due to
good demand and high prices.  Soybeans saw additional pressure from heavy supply
outlook as the South American harvest is expected to be in full force next week
due to drier weather.  The weekly export sales for corn were reported at 356,600
tonnes as compared to trade estimates 600,000-800,000 which were below
expectations and Soybeans were at 516,500 tonnes as compared to trade
expectations 300,000-500,000.  Wheat weekly export sales were posted at 321,700
tonnes as compared to trade estimates 250,000-450,000.
   Wheat was mostly 3-13 cents lower.  Yellow corn was mostly 14-18 cents lower
with KC white corn 3 cents lower.  Sorghum was 22-39 cents lower.  Soybeans were
35-38 cents lower.


EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

South Korea         8.5 pct Soft White              2,500       Apr
                    10.5 pct Soft White             9,500       Apr
                    11.5 pct Hard Red Winter        2,900       Apr
                    14.0 pct Dark Northern Spring   5,700       Apr
South Korea          10.5 pct Soft White            7,000       Mar 25-Apr 25
                      9.5 pct Soft White            1,800       Mar 25-Apr 25
                      8.5 pct Soft White              500       Mar 25-Apr 25
                     11.5 pct Hard Red Winter       6,000       Mar 25-Apr 25
                     14.0 pct Dark Northern Spring  6,200       Mar 25-Apr 25
Japan               11.7 pct Hard Red Winter       20,000       Apr-May
                    14.0 pct Dark Northern Spring  31,000       Apr-May
                    10.5 pct Western White         34,000       Apr-May
CCC to Uganda             Hard Red Winter wheat     6,660       Mar 9-19

CCC to Somalia            Yellow Corn               3,000       Mar 9-19

Pvt. Ex. to Japan         Soybeans                100,000       07-08 Mkting Yr.

Total:  Wheat 133,760 tonnes.  Corn 3,000 tonnes.  Soybeans 100,000 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 9
1/4 cents lower from 5.37 1/4-5.63 1/4 per bushel.  Kansas City US No 2 Soft Red
Winter rail bid was 11 1/4 cents lower from 4.60 1/4-4.70 1/4 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 19 cents lower at 4.41 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 3 to 13 cents lower at 5.58 1/2 per bushel.  Portland
US Soft White Wheat rail was steady to 4 cents lower from 5.40-5.46 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 3 cents lower from 4.97-5.08
per bushel.  Kansas City US No 2 truck Yellow Corn was 14 cents lower from 4.06-
4.08 per bushel.  Omaha US No 2 truck Yellow Corn was 15 to 18 cents lower from
3.97-4.00 per bushel.  Chicago US No 2 Yellow Corn was 17 1/2 cents lower to 1/2
cent higher from 3.97-4.22 per bushel.  Toledo US No 2 rail Yellow corn was 14
1/2 to 15 1/2 cents lower from 4.03-4.04 per bushel.  Minneapolis US No 2 Yellow
Corn rail was 21 1/2 cents lower at 3.88 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 20 1/2 to 21 1/2 cents lower at 2.61 1/2-2.66 1/2 per bushel.  US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was
steady 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 39 cents lower at 7.75 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 22 to 31 cents lower from 7.18-7.45 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans no bid.  Illinois Processors US
No 1 Yellow truck soybeans were 35 3/4 to 36 3/4 cents lower from 7.25-7.34 per
bushel.  Kansas City US No 2 Yellow truck soybeans were 38 cents lower at 7.09
per bushel.  Decatur 48 percent Soybean meal, processor rail bid was 11.50 to
16.50 lower from 205.60-213.60 per ton.  Decatur crude Soybean oil processor bid
was 6 to 31 points lower from 28.26-29.51 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