USDA National Grain Review

ST. JOSEPH - Mar 9/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Mar 9.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week wheat and soybeans were mix, while corn and sorghum were lower.
Wheat was pressured by other grains and good moisture over the winter in the
southern plains as the crop is on the verge of coming out of dormancy.  Weekly
export sales for wheat came in the middle of expectations at 421,900 tonnes as
compared to trade estimates 350,000-450,000.  Corn saw more declines this week
but was not as severe as last week double digit losses as the volatile financial
markets pressured trade.  Talk of increased acreage continues to haunt the corn
market.  Weekly export sales for corn were above expectations coming in at 1.258
million tonnes as compared to trade estimates 700,000-900,000.  Soybeans were
mix as the advancing South American harvest and the lower corn help pressure.
Weather in South America has been dry this week putting the harvest in full
force.  The weekly export sales for soybeans were good coming in at 566,000
tonnes as compared to trade estimates 300,000-350,000.  Talks of losing acreage
to corn this year lend support in the pits.
   Wheat was 21 cents lower to 13 cents higher.  Yellow corn was 3-9 cents
lower.  Sorghum was 9-10 cents lower.  Soybeans were 4 cents lower to 6 cents
higher.

EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

South Korea         11.5 pct Hard Red Winter        7,000       Apr 1-30
                    14.0 pct Dark Northern Spring   4,000       Apr 1-30
                    14.5 pct Dark Northern Spring   2,000       Apr 1-30
                    10.5 pct Soft White             5,000       Apr 1-30
                     9.5 pct Soft White             2,500       Apr 1-30
Taiwan                    Hard Red Winter           7,880       Apr 15-29
                          Dark Northern Spring     24,290       Apr 15-29
                          Hard White Wheat          9,200       Apr 15-29
South Korea          11.5 pct Hard Red Winter       7,600       Mar 25-Apr 25
                     14.0 pct Dark Northern Spring  1,500       Mar 25-Apr 25
                     10.5 pct Soft White            4,500       Mar 25-Apr 25
                     10.0 pct Soft White           10,000       Mar 25-Apr 25
Japan       U.S.    11.7 pct Hard Red Winter        6,000       May
                    14.0 pct Dark Northern Spring  20,000       May
                    10.5 pct Western White         14,000       May

South Korea               Corn                    275,000       Jul-Aug
Taiwan                    Corn                     29,000       Apr

Taiwan                    Soybeans                 16,000       Apr

Total:  Wheat 125,470 tonnes.  Corn 304,000 tonnes.  Soybeans 16,000 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 1
to 4 cents higher from 5.41 1/4-5.64 1/4 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 3 cents lower to 3 cents higher from 4.57 1/4-4.67 1/4
per bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 21 cents
lower at 4.20 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring,
14.0 to 14.5 percent protein rail, was 5 to 13 cents higher from 5.63 1/2-5.71
1/2 per bushel.  Portland US Soft White Wheat rail was 5 to 6 cents higher from
5.46-5.51 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 2 to 7 cents higher from 5.04-
5.10 per bushel.  Kansas City US No 2 truck Yellow Corn was 6 cents lower from
4.00-4.02 per bushel.  Omaha US No 2 truck Yellow Corn was 4 to 5 cents lower
from 3.93-3.95 per bushel.  Chicago US No 2 Yellow Corn was 3 1/2 to 9 1/2 cents
lower from 3.93 1/2-4.12 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 4
1/2 to 5 1/2 cents lower from 3.97 1/2-3.99 1/2 per bushel.  Minneapolis US No 2
Yellow Corn rail was 8 1/2 cents lower at 3.79 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 7 1/2 to 9 1/2 cents higher at 2.71-2.74 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 has no
comparison at 8.50-8.60 per cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was  9 to 11 cents lower from
6.64-6.66 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid
to the farmer, fob elevator) was 9 to 18 cents lower from 7.09-7.27 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans has no comparison at 6.97 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 3 to 4 cents
lower from 7.21-7.31 per bushel.  Kansas City US No 2 Yellow truck soybeans were
6 cents higher at 7.15 per bushel.  Decatur 48 percent Soybean meal, processor
rail bid was 2.50 to 4.50 lower from 203.10-209.10 per ton.  Decatur crude
Soybean oil processor bid was 59 points higher from 28.85-30.10 cents per pound.
Sunflower Oil was not available.

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

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