USDA National Grain Review

ST. JOSEPH - Jul 6/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 6.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain bids were lower except soybeans which were higher as the
USDA report last Friday set the tone for the market.  The USDA listed planted
acreage for spring wheat at 13.144 million acres as compared to the average
trade estimate 13.89 million acres and the March USDA preliminary forecast of
13.98 million acres.  Producers planted 14.89 million last year. The USDA pegged
all wheat planted acreage at 60.505 million acres as compared to the average
trade estimate 60.38 million acres and the March USDA forecast of 67.14 million
acres. For the Grain stocks report, wheat stocks on June 1st (also ending stocks
for the 06-07 season stood at 419 million bushels as compared to trade estimates
of 419 million bushels and 572 million bushels a year ago.
   The USDA adjusted planted acreage for corn up by 2.434 million acres from the
March report, the largest adjustment since 1971.  Producers intend to plant
92.888 million acres of corn this season as compared to the average trade
estimate 90.618 million acres and the March USDA preliminary forecast of 90.454
million acres.  The quarterly grain stocks report, June 1st corn stocks were
pegged at 3.534 billion bushels as compared to trade estimates of 3.456 billion
bushels and 4.362 billion bushels last year.
   The USDA report showed that producers plan to plant 64.081 million acres of
soybeans as compared to trade estimate of 68 million acres and the March USDA
preliminary forecast of 67.14 million acres.  June 1st stocks were listed at
1.091 billion bushels which were in line with trade expectations 1.089 billion
bushels and 991 million bushels last year.
   Wheat also saw spillover pressure from corn.  However, heavy rain in the
southern plains and tight world supplies provided some support.  The winter
wheat harvest was listed at 40 percent complete as compared to 22 percent last
week and 62 percent last year.  Corn found additional pressure from wet weather
outlook for some parts of the Midwest.  However, some dry concerns for the
western corn-belt limit the losses.  The weekly conditions report posted corn at
73 percent in good to excellent condition which was unchanged from last week and
compared to 68 percent last year.  Soybeans were listed at 68 percent in good to
excellent condition as compared to 66 percent last week and 64 percent last
year.
   Wheat was mostly 2-12 cents lower.  Corn was mostly 15-21 cents lower.
Sorghum was 8-16 cents lower.  Soybeans were 33-53 cents higher.

EXPORT SALES:

PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

CCC to Bangladesh    Ord. Hard Red Winter           5,000       Jul 16-26
                    9.5 pct Soft White              6,380       Jul 16-26
Pvt. Ex. to Guatemala     Hard Red Winter          42,700       07-08 Mkting Yr.
                          Hard Red Spring          38,900       07-08 Mkting Yr.
                          White                    24,300       07-08 Mkting Yr.
Egypt                     Soft Red Winter         175,000       Jul 23-Aug 10
South Korea         11.5 pct Hard Red Winter       12,500       Aug. 1-Sep 10
                    14.0 pct Dark North Spring      9,300       Aug. 1-Sep 10
                    10.5 pct Soft White            10,100       Aug. 1-Sep 10
                    10.0 pct Soft White             6,500       Aug. 1-Sep 10
                     9.5 pct Soft White             3,200       Aug. 1-Sep 10
                     8.5 pct Soft White             3,200       Aug. 1-Sep 10
Pvt. Ex. to Iraq          Hard Red Winter         100,000     2007/08 Mrkt. Yr
Egypt                     Soft Red Winter         115,000      Aug. 5-Sep 10

Total:  Wheat 552,080 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
8 1/4 cents lower to 4 3/4 cents higher from 6.09-6.69 per bushel.  Kansas City
US No 2 Soft Red Winter rail bid was 8 1/4 lower to 11 3/4 cents higher from
6.04 -6.49 per bushel. St. Louis truck US No 2 Soft Red Winter terminal bid was
12 cents lower at 5.54 per bushel. Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 2 to 12 cents lower at 6.65
bushel. Portland US Soft White wheat rail was 5 to 8 cents lower at 6.12-6.20
per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 19 to 20 cents lower from
4.38-4.48 per bushel.  Kansas City US No 2 truck Yellow Corn was 19-20 cents
lower at 3.21-3.23 per bushel.  Omaha US No 2 truck Yellow Corn was 17 cents
lower at 3.17 per bushel.  Chicago US No 2 Yellow Corn was 21 to 26 cents lower
from 3.10 1/2-3.23 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 15-18 to
cents lower from 3.21 1/2-3.26 1/2 per bushel. Minneapolis US No 2 Yellow Corn
rail was 16 1/2 cents lower at 2.94 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1/4 cent higher at 2.75 1/4-2.77 1/4 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was steady at 4.55
per bushel. Portland US 2 Barley, unit trains and Barges-export was 5 to 25
cents lower at 8.05-8.25 per cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was 13 cents lower at 5.23 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 8 to 16 cents lower from 5.53-5.79 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 36 3/4 cents higher at 7.72
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 33 1/4 to 40
1/4 cents higher from 8.05-8.20 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 53 cents higher at 8.11 per bushel.  Decatur 48 percent Soybean
meal, processor rail bid was 13.90 higher at 227.10-230.10 per ton. Decatur
crude Soybean oil processor bid was 134 to 184 points higher from 34.91-36.41
cents per pound.  Sunflower Oil was not available.

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

---

STAT News Service