USDA National Grain Review

ST. JOSEPH - Mar 14/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Mar 14.

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WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week wheat was sharply higher due fund buying and bullish supply
demand report.  Export sales for wheat were disappointing coming in at 210,100
tonnes.  Wheat U.S. ending stocks came in at 242 million bushels as compared 272
million bushels last month which was below expectations.  Exports were up to
1.225 billion bushels compared to 1.200 last month.  Global ending stocks were
up slightly to 110.4 million tons.  World production was reported at 604.96
million tonnes versus 603.59 million last month.  Feed use was raised slightly
99.49 million tons.
   Corn ended the week on a mix note finding pressure from fund selling and
increase producer selling.  However, the higher wheat and good weekly export
sales lend support.  Weekly export sales for corn were posted at 1.226 million
tonnes.  The USDA supply demand report earlier in the week was neutral to
slightly bearish posting ending stocks for the 2007-2008 unchanged at 1.438
billion bushels.  Global ending stocks were listed at 104.03 million tonnes as
compared to 101.88 million last month and 106.17 million last year.
   Soybeans were lower on fund selling, lower export demand, talk of good crop
conditions in Argentina, and sharp decline in soy oil.  Export sales for wheat
were supportive coming in at 257,600 tonnes which was in line with trade
expectations.  The supply/demand report was bullish coming in at 140 million
bushels as compared to 160 million last month.  Export sales were changed higher
by 20 million bushels to 1.025 billion bushels.  Global ending stocks were
posted at 47.44 million tonnes as compared to 45.82 million last month and 63.29
million last year.
   Wheat was mostly 94 cents to 1.53 higher.  Corn was 6 cents lower to 4 cents
higher.  Sorghum was 1 cent lower to 6 cents higher.  Soybeans were 51-53 cents
lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 94
cents to 1.19 higher from 13.26 1/2-14.06 1/2 per bushel.  Kansas City US No 2
Soft Red Winter rail bid was 1.04 higher from 12.91 1/2-13.26 1/2 per bushel.
St. Louis truck US No 2 Soft Red Winter terminal bid was 57 cents higher at
10.09 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to
14.5 percent protein rail, was 1.13 1/2 to 1.53 1/2 higher from 16.43 1/4-16.83
1/4 per bushel.  Portland US Soft White wheat rail was not available.

   CORN:  Kansas City US No 2 rail White Corn was 2 cents lower to 3 cents
higher from 5.46-5.52 per bushel.  Kansas City US No 2 truck Yellow Corn was 1
cent higher at 5.48 per bushel.  Omaha US No 2 truck Yellow Corn was steady to 3
cents higher from 5.33-5.40 per bushel.  Chicago US No 2 Yellow Corn was 1 3/4
cents lower to 4 1/4 cents higher from 5.27 1/2-5.39 1/2 per bushel.  Toledo US
No 2 rail Yellow corn was 3 1/4 cents higher from 5.44 1/2-5.45 1/2 per bushel.
Minneapolis US No 2 Yellow Corn rail was 6 3/4 cents lower at 5.25 1/2 per
bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 18 1/4 cents lower from 3.89-3.91 per bushel. US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was steady at 7.20
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 6 cents higher at 9.61 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 1 cent lower to 4 cents higher from 9.21-9.33 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, no bid available.  Illinois
Processors US No 1 Yellow truck soybeans were 51 to 53 cents lower from 13.45
3/4-13.62 3/4 per bushel.  Kansas City US No 2 Yellow truck soybeans were 51
cents lower at 13.11 per bushel.  Central Illinois 48 percent Soybean meal,
processor rail bid was 12.30-14.30 lower from 336.00-342.00 per ton.  Central
Illinois crude Soybean oil processor bid was 277 to 302 points lower from 59.06-
59.56 cents per pound.  Sunflower Oil was not available.

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

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