USDA National Grain Review

ST. JOSEPH - Apr 11/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Apr 11.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grains bids were mostly lower with the exception of soybeans
which were sharply higher.  Wheat was mix finding pressure from profit taking
and improving moisture in the southern plains.  Weekly export sales for wheat
were very large coming in at 763,000 tonnes which was well above trade
expectations.  The hard red winter wheat region has been receiving beneficial
rain becoming a negative factor in the grain floor.  Yellow corn was moderately
lower finding spillover pressure from wheat, weaker than expected export sales
and profit taking.  Heavy rain across the Midwest has delayed field work and
planting.  Corn ending stocks were lower than expected at 1.283 billion bushels
with expectations of 1.31 billion.  Weekly export sales for corn came in at
483,500 tonnes which was well under trade expectations.  Soybeans saw sharp
gains in reaction to the higher crude oil, lower dollar, speculator buying, and
spillover demand from the Argentina strike.  Weekly export sales for soybeans
came in at 643,800 tonnes.  Wheat was 2.05 lower to 50 cents higher.  Yellow
corn was 5-11 cents lower.  Sorghum was 5-11 cents lower.  Soybeans were 99
cents to 1.27 higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 1
1/2 11 1/2 cents lower from 10.19 3/4-11.04 3/4 per bushel.  Kansas City US No 2
Soft Red Winter rail bid was 26 1/2 cents lower from 9.39 3/4-9.74 3/4 per
bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 3 cents higher
at 7.56 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0
to 14.5 percent protein rail, was 2.05 lower at 13.00 per bushel.  Portland US
Soft White wheat rail was 25 to 50 cents higher at 10.50 per bushel.
   CORN:  Kansas City US No 2 rail White Corn was 14 to 27 cents higher from
5.69-5.74 per bushel.  Kansas City US No 2 truck Yellow Corn was 6 cents higher
at 5.72 per bushel.  Omaha US No 2 truck Yellow Corn was 8 to 9 cents lower from
5.57-5.64 per bushel.  Chicago US No 2 Yellow Corn was 8 3/4 to 10 3/4 cents
lower from 5.56 1/4-5.84 1/4 per bushel.  Toledo US No 2 rail Yellow corn was 5
3/4 cents lower from 5.74 1/4-5.79 1/4 per bushel.  Minneapolis US No 2 Yellow
Corn rail was 11 3/4 cents lower at 5.34 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 9 3/4 cents lower from 3.79 1/4-3.82 1/4 per bushel. US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was steady at
7.25 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 11 cents lower at 9.71 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 5 to 11 cents lower from 9.76-9.86 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was 1.27 higher at 12.94 per
bushels.  Illinois Processors US No 1 Yellow truck soybeans were 99 cents to
1.04 higher from 13.16-13.36 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 1.14 higher at 13.11 per bushel.  Central Illinois 48 percent
Soybean meal, processor rail bid was 19.00 higher from 340.20-345.20 per ton.
Central Illinois crude Soybean oil processor bid was 530 to 555 points higher
from 57.17-58.42 cents per pound.

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

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