USDA National Grain Review

ST. JOSEPH - Feb 1/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Feb 1.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain and soybean bids were higher.  Wheat found support from
tight supplies and good weekly export sales.  Weekly export sales for wheat were
reported at 508,800 tonnes.  Texas reported that the overall wheat condition in
the state is rated at 62 percent very poor to poor.  Corn was higher due to the
higher outside markets and solid export sales.  However, improved weather in
Argentina limited the gains.  Weekly export sales for corn were reported at
1,887,600 tonnes.  Soybeans saw sharp gains as meal and bean oil were higher in
the week, along with concerns of inadequate new crop planted acreage.  Weekly
export sales for soybeans were disappointing coming in at 488,000 tonnes.  Parts
of the Midwest received heavy snow late in the week hampering travel.  Wheat was
12-77 cents higher.  Yellow corn was 12-18 cents higher.  Sorghum was 20-22
cents higher.  Soybeans were 49-57 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 17
1/4 to 45 1/4 cents higher from 9.90 1/4-10.82 1/4 per bushel.  Kansas City US
No 2 Soft Red Winter rail bid was 12 1/4 cents higher from 9.72 1/4-10.07 1/4
per bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 44 cents
higher at 8.68 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring,
14.0 to 14.5 percent protein rail, was 57 3/4 to 77 3/4 cents higher from 13.94
3/4 per bushel.  Portland US Soft White wheat rail was not available.

   CORN:  Kansas City US No 2 rail White Corn was 3 to 6 cents lower from 4.81-
4.88 per bushel.  Kansas City US No 2 truck Yellow Corn was 15 to 18 cents
higher at 4.89 per bushel.  Omaha US No 2 truck Yellow Corn was 14 to 16 cents
higher from 4.74-4.78 per bushel.  Chicago US No 2 Yellow Corn was 12 to 16
cents higher from 4.71 1/4-4.96 1/4 per bushel.  Toledo US No 2 rail Yellow corn
was 16 to 17 cents higher from 4.85 1/4-4.87 1/4 per bushel.  Minneapolis US No
2 Yellow Corn rail was 12 cents higher at 4.68 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 12 3/4 cents higher from 3.27 1/4-3.29 1/4 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was 10 cents
lower at 7.00 per bushel.  Portland US 2 Barley, unit trains and Barges-export
was 55 to 65 cents lower from 12.60-12.80 per cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was 20 to 22 cents higher from
8.11-8.23 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid
to the farmer, fob elevator) was 23 to 26 cents lower from 7.89-8.03 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, no bid available.  Illinois
Processors US No 1 Yellow truck soybeans were 49 to 50 cents higher from 12.34
1/2-12.40 1/2 per bushel.  Kansas City US No 2 Yellow truck soybeans were 57
cents higher at 11.93 per bushel.  Central Illinois 48 percent Soybean meal,
processor rail bid was 9.30 higher from 323.50-327.50 per ton.  Central Illinois
crude Soybean oil processor bid was 179 to 204 points higher from 50.72-51.47
cents per pound.  Sunflower Oil was not available.

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

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STAT News Service