USDA National Grain Review

ST. JOSEPH - May 2/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 2.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain bids were sharply lower for the exception of corn which
was sharply higher.  Wheat saw losses due to fund selling, and a strengthen US
dollar. Export sales for wheat came in at 176,100 tonnes for old crop and
323,100 of new crop.  Corn bids were higher as weather is a major factor.  Heavy
rain moved across the Midwest most of the week keeping farmers from doing field
work and planting. Planting progress has been very slow and more rain is still
in the forecast. Most farmers are running 2-3 weeks behind planting. Weekly
export sales for corn were reported at 551,200 tonnes for old crop and 44,800
tonnes for new crop all at the low end of expectations.  Soybeans closed in
negative territory with a strong US dollar and liquidation selling, also the
thought more acres may be planted to soybeans pressured the soybean market.
Weekly export sales for soybeans were listed at 310,100 tonnes for old crop and
64,700 tonnes for new crop this was in line with expectations.  Wheat was 14 to
49 cents lower, to 31 1/4 cents higher.  Yellow corn was mostly 23-35 cents
higher.  Sorghum was 50-74 cents higher.  Soybeans were 77 cents to 106.25 cents
lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
14-29 cents from 8.84 1/2-10.14 1/2 per bushel.  Kansas City US No 2 Soft Red
Winter rail bid was 24 cents lower from 8.04 1/2-8.39 1/2 per bushel.  St. Louis
truck US No 2 Soft Red Winter terminal bid was 49 cents lower at 6.20 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 31 1/4 cents higher at 11.35 per bushel. Portland US
Soft White wheat rail was not available.

   CORN:  Kansas City US No 2 rail White Corn was 9-19 cents higher from
5.89-5.99 per bushel.  Kansas City US No 2 truck Yellow Corn was 31 cents higher
from 5.82-5.85 per bushel.  Omaha US No 2 truck Yellow Corn was 23 to 34 cents
Higher from 5.68-5.82 per bushel.  Chicago US No 2 Yellow Corn was 29 to 37
cents higher from 5.72 1/4-6.00 1/4 per bushel.  Toledo US No 2 rail Yellow
corn was 31-35 cents higher from 5.87 1/4-5.93 1/4 per bushel.  Minneapolis US
No 2 Yellow Corn rail was 26 cents higher at 5.51 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 26-27 cents higher from 3.95 1/2-3.97 1/2 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 50-52 cents higher at 9.89-
9.91 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to
the farmer, fob elevator) was 66 to 74 cents higher from 9.95-10.19 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was 106. 1/4 cents lower at 11.94
per bushels.  Illinois Processors US No 1 Yellow truck soybeans were 77 3/4
cents lower from 12.51-12.66 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 83 cents lower at 12.36 per bushel.  Central Illinois 48 percent
Soybean meal, processor rail bid was 16.70-17.70 lower from 317.50-319.50 per
ton.  Central Illinois crude Soybean oil processor bid was 482 points lower from
53.35-54.35 cents per pound.

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

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