USDA National Grain Review

ST. JOSEPH - May 4/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 4.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Grain and soybean bids for the week closed higher except wheat which was
moderate to sharply lower.  Wheat was pressured by moisture in the winter wheat
region which improved crop conditions.  Some of the wheat that had freeze damage
a month ago recovered due to rain and warmer temperatures.  Wheat ratings were
posted at 56 percent good to excellent condition as compared to 54 percent last
week and 36 percent a year ago.  Weekly export sales for wheat were below
expectations coming in at 215,200 tonnes as compared to trade estimates 250,000-
450,000.  Corn saw solid gains as recent rain and the outlook for more wet
weather sparked the rally which will delay plantings even further.  The planting
progress report came in at 23 percent complete earlier in the week as compared
to trade expectations 30-35 percent and 48 percent last year.  Weekly export
sales were below expectations coming in at 655,300 tonnes as compared to trade
expectations 800,000-1.1 million.  Soybeans saw additional gains from last week
due to some overnight export announcements and the higher corn market.  Soybean
plantings were listed at 3 percent complete early in the week as compared to
trade expectations of 3-5 percent.  Weekly export sales came in above
expectations at 471,300 tonnes as compared to trade expectations 250,000-350,000
tonnes.
   Wheat was 14-23 cents lower.  Yellow corn was mostly 14-18 cents higher, with
KC white corn 7-14 cents lower.  Sorghum was 25-56 cents higher.  Soybeans were
11-16 cents higher.

EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

CCC to Indonesia    14.0 pct Northern Spring/Dark  11,520       May 11-21
CCC to Bangladesh         Soft White               36,090       May 11-21
CCC to Ethiopia           Hard Red Winter           3,970       May 11-30

Taiwan              14.5 pct Dark Northern Spring  24,070       Jun 6-20
                    13.0 pct Hard Red Winter       10,090       Jun 6-20
                    10.5 pct Western White          6,840       Jun 6-20

Pvt. Ex. to Mexico        Soybeans                 30,000       06/07 Mkting Yr.
                          Soybeans                180,000       07/08 Mkting Yr.

Total: Wheat 95,580 tonnes.     Soybeans 210,000 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 23
cents lower from 5.59-5.69 per bushel.  Kansas City US No 2 Soft Red Winter rail
bid was 16 cents lower from 4.71-4.81 per bushel.  St. Louis truck US No 2 Soft
Red Winter terminal bid was 20 cents lower at 4.72 per bushel. Minneapolis and
Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 14
to 19 cents lower from 5.58 1/4-5.73 1/4 per bushel. Portland US Soft White
wheat rail was 15 to 16 cents lower from 5.94-6.00 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 7 to 14 cents lower from 4.68-
4.75 per bushel.  Kansas City US No 2 truck Yellow Corn was 16-17 cents higher
from 3.67-3.69 per bushel.  Omaha US No 2 truck Yellow Corn was 18 to 21 cents
higher at 3.64-3.65 per bushel.  Chicago US No 2 Yellow Corn was 17 1/2 to 18
1/2 cents higher from 3.65 1/4-3.89 1/4 per bushel.  Toledo US No 2 rail Yellow
corn was 14 1/2 cents higher from 3.69 1/4-3.70 1/4 per bushel.  Minneapolis US
No 2 Yellow Corn rail was 16 1/2 cents higher at 3.58 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 6 1/2 cents higher from 2.79 1/2-2.81 1/2 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was .5 cents
higher at 4.35 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 cents higher at 6.23 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 35 to 56 cents higher from 6.50-6.81 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 11 1/2 cent higher at 6.81
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 10 1/4 -
16 1/4 from 7.11 1/2-7.18 1/2 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 10 cents higher at 6.98 per bushel.  Decatur 48 percent Soybean
meal, processor rail bid was 1.10 higher from 184.10-189.10 per ton. Decatur
crude Soybean oil processor bid was 90 to 110 points higher from 31.34-32.59
cents per pound.  Sunflower Oil was not available.

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

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