USDA National Grain Review

ST. JOSEPH - Jun 1/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jun 1.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain bids were higher except soybeans which were slightly
lower.  Wheat found support from tight world stocks, concerns of damage to
winter wheat crop, and overnight export announcements.  Some parts of the
southern plains have been receiving heavy rain causing concerns of possible
damage to wheat.  Winter wheat is mostly matured and ready for harvest.  The
weekly winter wheat ratings early in the week were supportive at 57 percent good
to excellent condition as compared to 59 percent last week and 28 last year.
Spring wheat was listed at 79 percent good to excellent as compared to 81
percent last week and 73 percent last year.  Spillover support from corn also
contributed to the gains in the wheat market.  Corn saw solid gains as tight
supplies and slow producer selling sparked the rally.  Crops ratings for corn
were reported at 78 percent in good to excellent condition.  Soybeans were the
only exception and closed slightly lower for the week due to rain in some parts
of the Midwest.  Rain showers have appeared on and off though out the week in
some areas of the corn-belt that was in need of moisture.  Soybean plantings
were reported at 80 percent complete.  Wheat was mostly 16-24 cents higher.
Yellow corn was mostly 12-18 cents higher.  Sorghum was 23-25 cents higher.
Soybeans were mostly 2-8 cents lower.

EXPORT SALES:
PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

Pvt. Ex. to Spain         Soft Red Winter         120,000    07-08 Mkting Yr.
Japan               14.0 pct Dark Northern Spring   6,000       Jul
                    10.5 pct Western White         19,000       Jul

CCC to Chad               Sorghum                   6,000       Jun 11-21
CCC to Uganda             Sorghum                   9,730       Jun 11-21
CCC to Somalia            Sorghum                  12,000       Jun 11-21

Taiwan                    Corn                     60,000       Jul-Aug
South Korea               Corn                    110,000       Nov 15-20

Total:  Wheat 145,000 tonnes.  Corn 170,000 tonnes.  Sorghum 27,730 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 24
cents higher from 5.69-5.79 per bushel.  Kansas City US No 2 Soft Red Winter
rail bid was 24 cents higher from 5.19-5.29 per bushel.  St. Louis truck US No 2
Soft Red Winter terminal bid was 19 cents higher at 4.75 per bushel. Minneapolis
and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was
16 3/4 to 21 3/4 cents higher from 5.77 1/4-5.87 1/4 per bushel. Portland US
Soft White wheat rail was 8 to 33 cents higher at 5.70-5.95 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was steady to 4 cents higher from
4.77-4.89 per bushel.  Kansas City US No 2 truck Yellow Corn was 13 to 15 cents
higher at 3.75-3.77 per bushel.  Omaha US No 2 truck Yellow Corn was 17 to 18
cents higher at 3.80-3.82 per bushel.  Chicago US No 2 Yellow Corn was 21 3/4
cents higher from 3.78 1/4-4.03 1/4 per bushel.  Toledo US No 2 rail Yellow corn
was 13 3/4 to 14 3/4 cents higher from 3.82 1/4-3.86 1/4 per bushel.
Minneapolis US No 2 Yellow Corn rail was 12 3/4 cents higher at 3.62 1/4 per
bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was steady at 2.89-2.91 per bushel.  US No 3 or better rail malting Barley,
70 percent or better plump out of Minneapolis was steady at 4.50 per bushel.
Portland US 2 Barley, unit trains and Barges-export was not available.

   SORGHUM:  US No 2 yellow truck, Kansas City was 23 cents higher at 6.25 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 24 to 25 cents higher from 6.52-6.61 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 8 cents lower at 7.24 1/4
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 1 cent
higher from 7.76 1/4-7.92 1/4 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 2 cents lower at 7.66 per bushel.  Decatur 48 percent Soybean
meal, processor rail bid was 30 cents lower to 5.70 higher at 211.90-216.90 per
ton. Decatur crude Soybean oil processor bid was 13 points higher from 33.71-
34.71 cents per pound.  Sunflower Oil was not available.

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

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