USDA National Grain Review

ST. JOSEPH - Nov 2/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Nov 2.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were lower except corn and sorghum which
were higher.  Wheat saw spillover pressure from soybeans, the sharply lower
stock market, and lower than expected weekly export sales.  The weekly crop
plantings early in the week listed winter wheat at 88 percent complete as
compared to 90 percent last year.  The first ratings of the year, listed the
winter wheat crop at 55 percent in good/excellent condition as compared to 60
percent last year.  Weekly U.S. export sales for wheat came in at 180,200 tonnes
as compared to trade estimates of 650,000-750,000.  Corn saw slight to moderate
gains finding support from high energy prices, lower U.S. dollar and slow
producer selling.  Good harvest weather in the Midwest this week and lower than
expected weekly export sales limited the gains.  The corn harvest early in the
week came in at 73 percent complete compared as compared to 60 percent last week
and 65 percent last year.  Weekly export sales for corn came in at 635,300
tonnes as compared to trade expectations of 900,000-1.1 million.  Soybean bids
declined due to spillover pressure from wheat, a sell-off in the stock market
late in the week, and good weather for the remaining of the harvest.  However,
the higher energy markets and lower U.S. dollar lend support.  The weekly crop
update listed the soybean harvest early in the week at 84 percent complete
compared to 75 percent last week and 82 percent last year.  Weekly export sales
for soybeans came in above expectations at 740,600 tonnes as compared to trade
estimates of 500,000-700,000.
   Wheat was mostly 11-20 cents lower.  Yellow corn was mostly 2-11 cents
higher.  Sorghum was steady to 15 cents higher.  Soybeans were mostly 3-23 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 15
1/2 to 16 1/2 cents lower from 8.21 1/2-8.76 1/2 per bushel.  Kansas City US No
2 Soft Red Winter rail bid was 20 1/2 cents lower from 7.69 1/2-8.04 1/2 per
bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 9 cents lower
at 7.58 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0
to 14.5 percent protein rail, was 11 to 13 cents lower from 8.81-8.84 per
bushel.  Portland US Soft White wheat rail was not available.

   CORN:  Kansas City US No 2 rail White Corn was 12 to 19 cents higher from
4.01-4.09 per bushel.  Kansas City US No 2 truck Yellow Corn was 10 to 11 cents
higher from 3.5646-3.5948 per bushel.  Omaha US No 2 truck Yellow Corn was 6 to
8 cents higher from 3.41-3.46 per bushel.  Chicago US No 2 Yellow Corn was 1/2
to 2 1/2 cents higher from 3.33 3/4-3.56 3/4 per bushel.  Toledo US No 2 rail
Yellow corn was 2 1/2 to 3 1/2 cents higher from 3.48 3/4-3.51 3/4 per bushel.
Minneapolis US No 2 Yellow Corn rail was 8 1/2 cents lower at 3.28 3/4 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 steady at 6.25 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 15 cents higher at 5.88 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was steady to 8 cents higher from 6.00-6.12 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans were 23 cents lower at 9.12 3/4 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 3 1/4 cents
lower to 1 3/4 cents higher from 9.66 1/2-9.81 1/2 per bushel.  Kansas City US
No 2 Yellow truck soybeans were 4 cents lower at 9.31 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 2.40 lower to 6.60
higher from 262.10-272.10 per ton.  Central Illinois crude Soybean oil processor
bid was 115 points higher from 39.57-40.57 cents per pound.  Sunflower Oil was
not available.

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

---

STAT News Service