USDA National Grain Review

ST. JOSEPH - May 11/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 11.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Grain bids were moderate to sharply lower except soybeans which were slightly
higher for the week.  Wheat was pressured by the lower corn, possibility of
hefty supplies of winter wheat this year as the region has received good
moisture, and an increase in planted acreage for spring wheat.  However, more
chances of rain in the forecast for the southern and central plains have traders
worried of disease problems.  Corn was sharply lower due to higher than expected
planting progress and the outlook for dry weather for more planting.  Late last
weekend and into early Monday the central plains and western corn-belt received
hefty rain flooding many areas.  The Missouri river was over flood stage
spilling over the banks in some parts into residential and agricultural sections
which were declared federal disaster areas.  Corn plantings came in at 53
percent complete as compared to trade estimates of 50 percent.  Weekly export
sales for corn were reported at 543,000 tonnes as compared to trade expectations
600,000-800,000.  Soybeans saw slight gains in reaction to favorable weather for
corn planting which will avoid an increase in soybean acreage.  Wheat was mostly
6-13 cents lower.  Yellow corn was 28-34 cents lower.  Sorghum was 60-62 cents
lower.  Soybeans were 2-11 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
Egypt                Soft Red Winter wheat        115,000       Jun 5-15

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 3/4 cents lower from 5.36 3/4-5.4663/4 per bushel.  Kansas City US No 2
Soft Red Winter rail bid was 7 3/4 cents lower from 4.64 3/4-4.74 3/4 per
bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 10 cents lower
at 4.62 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to
14.5 percent protein rail, was 6-13 cents lower from 5.52 1/4-5.60 1/4 per
bushel. Portland US Soft White wheat rail was 1 to 2 cents lower from 5.95-5.98
per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 2 to 4 cents higher from 4.72-
4.77 per bushel.  Kansas City US No 2 truck Yellow Corn was 34 cents lower from
3.33-3.35 per bushel.  Omaha US No 2 truck Yellow Corn was 32 to 33 cents lower
at 3.32 per bushel.  Chicago US No 2 Yellow Corn was 30 3/4 to 34 3/4 cents
lower from 3.30 1/2-3.59 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 28
3/4 cents lower from 3.40 1/2-3.41 1/2 per bushel.  Minneapolis US No 2 Yellow
Corn rail was 32 3/4 cents lower at 3.25 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 16 cents lower from 2.63 1/2-2.65 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 4.40 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 .60 cents lower at 5.63 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 60 to 62 cents lower from 5.90-6.19 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 8 1/2 cent higher at 6.90
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 2 3/4
cents higher from 7.14 1/4-7.21 1/42 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 11 cents higher at 7.09 per bushel.  Decatur 48 percent
Soybean meal, processor rail bid was 2.20 lower from 181.90-186.90 per ton.
Decatur crude Soybean oil processor bid was 13 points higher from 31.47-32.72
cents per pound.  Sunflower Oil was not available.

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

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