USDA National Grain Review

ST. JOSEPH - Nov 9/07 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Nov 9.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were moderate to sharply higher for the
exception of wheat which was lower.  Wheat was pressured by lower than expected
weekly export sales, a sharp break in financial markets and fund selling.
However, a lack of rain in the hard red winter wheat belt limited the losses.
Weekly export sales for wheat came in at 14,600 tonnes as compared to trade
expectations 350,000-550,000.  Corn saw gains due to higher energy prices, talk
of lower than expected yields going into the end of the harvest, weak dollar,
and good weekly export sales.  Weekly export sales came in strong at 1.548
million tonnes as compared to trade expectations of 650,000-950,000 tonnes.  The
lower U.S. dollar is sparking export interest.  Soybeans ended in positive
territory in reaction to the higher crude oil prices and a weak dollar.  In
spite of this the market saw some pressure from the volatile financial markets.
Weekly export sales for soybeans came in at 614,500 tonnes as compared to trade
expectations 450,000-650,000.
   Wheat was 14-33 cents lower.  Yellow corn was mostly 20-30 cents higher.
Sorghum was 30-37 cents higher.  Soybeans were 34-64 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 14
1/2 to 17 1/2 cents lower from 8.07-8.59 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 15 1/2 cents lower from 7.54-7.89 per bushel.  St. Louis
truck US No 2 Soft Red Winter terminal bid was 19 cents lower at 7.39 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 31 1/2 to 33 1/2 cents higher from 9.12 1/2-9.17 1/2
per bushel.  Portland US Soft White wheat rail has no trend but bids were from
9.85-9.95 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 11 to 12 cents higher from
4.13-4.20 per bushel.  Kansas City US No 2 truck Yellow Corn was 16 to 19 cents
higher at 3.75 per bushel.  Omaha US No 2 truck Yellow Corn was 24 to 27 cents
higher from 3.68-3.70 per bushel.  Chicago US No 2 Yellow Corn was 20 3/4 to 29
3/4 cents higher from 3.54 1/2-3.86 1/2 per bushel.  Toledo US No 2 rail Yellow
corn was 20 3/4 to 21 3/4 cents higher from 3.69 1/2-3.73 1/2 per bushel.
Minneapolis US No 2 Yellow Corn rail was 30 3/4 cents higher at 3.59 1/2 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 10 cents higher at 6.35 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 37 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 30 to 37 cents higher from 6.3700-6.412 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans were 64 1/2 cents higher at 9.77
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 34 3/4
to 39 3/4 cents higher from 10.06 1/4-10.16 1/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 35 cents higher at 9.66 per bushel.  Central Illinois
48 percent Soybean meal, processor rail bid was 6.30 higher from 268.40-278.40
per ton.  Central Illinois crude Soybean oil processor bid was 208 points higher
from 41.65-42.65 cents per pound.  Sunflower Oil was not available.

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

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