USDA National Grain Review

ST. JOSEPH - Aug 3/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 3.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were higher except wheat which was lower.
Wheat was pressured by talk of over bought technical conditions and ideas that
the spring wheat crop is maturing nicely.  However, good overnight export
announcements and weekly export sales, along with continued heat in the Canadian
wheat region limit the losses.  Weekly export sales for wheat were reported at
1.77 million tonnes as compared to trade expectations 650,000-950,000 tonnes.
Corn and soybeans found support from lack of moisture in the dry areas of the
corn-belt and lower crop ratings early in the week.  Crop ratings for corn were
down 4 percent at 58 percent in good to excellent condition and soybeans were
down 3 percent at 58 percent in good to excellent condition.  Weekly export
sales for corn were also supportive coming in at 1.77 million tonnes as compared
to 700,000-900,000 and soybeans at 440,000 tonnes as compared to 250,000-
450,000.  Wheat was mostly 6-27 cents lower.  Corn was mostly 6-16 cents higher.
Sorghum was 11 to 15 cents higher.  Soybeans were 9-49 cents higher.

EXPORT SALES:

PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

Pvt. Ex. to Iraq          Hard Red Winter         200,000       07-08 Mkting Yr.
Taiwan                    Dark Northern Spring     55,270       Aug 28-Sep 26
                          Hard Red Winter          28,350       Aug 28-Sep 26
                          Hard White                7,860       Aug 28-Sep 26
                          Western White             7,280       Aug 28-Sep 26
South Korea         11.5 pct Hard Red Winter        2,500       Aug 25-Sep 25
                    14.0 pct Dark Northern Spring   9,200       Aug 25-Sep 25
                    14.5 pct Dark Northern Spring   2,500       Aug 25-Sep 25
                    10.5 pct Soft White             6,000       Aug 25-Sep 25
South Korea         11.5 pct Hard Red Winter        3,300       Sep 1-30
                    14.0 pct Dark Northern Spring   9,000       Sep 1-30
                    10.5 pct Soft White             6,900       Sep 1-30
                     9.5 pct Soft White             1,300       Sep 1-30
Japan               11.7 pct Hard Red Winter       66,000       Sep 1-Oct 31
                    14.0 pct Dark Northern Spring   8,000       Sep 1-Oct 31
                    10.5 pct Western White         12,000       Sep 1-Oct 31

Pvt. Ex. to Unknown       Soybeans                165,000       07-08 Mkting Yr.

Total:  Wheat 425,460 tonnes.  Soybeans 165,000 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 2
to 7 cents lower from 6.29 1/2-6.63 1/2 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 27 cents lower from 5.84 1/2-6.34 1/2 per bushel. St.
Louis truck US No 2 Soft Red Winter terminal bid was 9 cents lower at 5.84 per
bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 14 1/4 to 24 1/4 cents lower from 6.46 3/4-6.66 3/4
per bushel.  Portland US Soft White wheat rail was 6 to 13 cents lower from
6.42-6.58 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 6 to 13 cents higher from
3.67-3.78 per bushel.  Kansas City US No 2 truck Yellow Corn was 10 to 11 cents
higher at 3.24 per bushel.  Omaha US No 2 truck Yellow Corn was 8 cents higher
from 3.10-3.12 per bushel.  Chicago US No 2 Yellow Corn was 14 1/2 to 16 1/2
cents higher from 3.02-3.31 per bushel.  Toledo US No 2 rail Yellow corn was 6
1/2 to 9 1/2 cents higher from 3.26-3.28 per bushel. Minneapolis US No 2 Yellow
Corn rail was 37 1/2 cents lower at 2.89 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 5 cents higher from 2.72-2.75 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was 5 cents lower
at 4.10 per bushel.  Portland US 2 Barley, unit trains and Barges-export was
steady to 10 cents higher from 8.75-8.85 per cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was 15 cents higher at 5.38 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 11 to 15 cents higher from 5.42-5.56 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 49 cents higher at 7.55 1/2
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 13 to 28
cents higher from 7.84 1/2-7.89 1/2 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 9 cents higher at 7.76 per bushel.  Decatur 48 percent
Soybean meal, processor rail bid was 1.80 to 2.20 lower from 203.10-211.10 per
ton.  Decatur crude Soybean oil processor bid was 1.05 to 1.30 higher from
35.14-37.39 cents per pound.  Sunflower Oil was not available.

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

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