USDA National Grain Review

ST. JOSEPH - Oct 5/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Oct 5.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week wheat bids closed mix, while other commodities closed sharply
lower.  Wheat was pressured by long liquidation selling from speculators, the
lower corn and soybeans, along with the higher than expected Canadian wheat crop
estimate which came in at 20.64 million tonnes, up slightly from the July
estimate 20.3 million tonnes; still down from 25.27 million tonnes last year.
However, the lower than expected stocks last week, ideas that the dryness in
Australia will cause further tight supplies globally, and good export demand
lend support.  Weekly US export sales for wheat came in at 1.59 million tonnes
as compared to trade expectations 1.4-1.8 million.  Corn closed sharply lower as
the negative USDA report last week and harvest pressure triggered the losses.
Early in the week heavy rain across the Midwest delayed harvest.  However,
temperatures were back up in the 80’s after the storm passed which will dry
field’s quickly allowing farmers to continue harvesting.  Weekly export sales
came in at 1.15 million tonnes as compared to trade expectations 900,000-1.2
million.   Soybeans saw steep losses upon news of record high beginning stocks
last week, harvest pressure, and fund selling.  Weekly export sales for soybeans
came in at 666,100 tonnes as compared to trade expectations 650,000-750,000.
   Wheat was 25 cents lower to 60 cents higher.  Corn was 44-60 cents lower.
Sorghum was 61-81 cents lower.  Soybeans were 44-55 cents lower.

EXPORT SALES:

PURCHASER                 COMMODITY               TONNAGE       DELIVERY DATE

Note: Export sales will no longer be published in this report.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2
1/2 to 19 1/2 cents lower from 8.80-9.36 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 9 1/2 cents lower from 8.63-9.03 per bushel.  St. Louis
truck US No 2 Soft Red Winter terminal bid was 25 cents lower at 8.56 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 54 1/4 to 59 1/4 cents higher from 9.58 1/2-9.63 1/2
per bushel.  Portland US Soft White wheat rail was 40 to 60 cents higher at
10.40 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 51 to 54 cents lower from
3.67-3.74 per bushel.  Kansas City US No 2 truck Yellow Corn was 45 cents lower
at 3.19 per bushel.  Omaha US No 2 truck Yellow Corn was 45 cents lower from
2.97-2.99 per bushel.  Chicago US No 2 Yellow Corn was 44 1/2 to 51 1/2 cents
lower from 2.97 1/4-3.30 1/4 per bushel.  Toledo US No 2 rail Yellow corn was 54
1/2 to 60 1/2 cents lower from 3.10 1/4-3.22 1/4 per bushel.  Minneapolis US No
2 Yellow Corn rail was 44 1/2 cents lower at 2.92 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day no bid.  US No 3 or better rail malting Barley, 70 percent or better plump
out of Minneapolis was 25 cents higher at 6.75 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 81 cents lower at 5.30 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 61 to 62 cents lower from 5.75-5.79 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 46 3/4 cents lower at 8.69
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 44 3/4
to 51 3/4 cents lower from 9.09 1/4-9.24 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 55 cents lower at 8.92 per bushel.  Central Illinois
48 percent Soybean meal, processor rail bid was 18.00 lower from 254.80-257.80
per ton.  Central Illinois crude Soybean oil processor bid was 50 to 75 points
lower from 36.68-37.68 cents per pound.  Sunflower Oil was not available.

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

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