USDA National Grain Review

ST. JOSEPH - Feb 7/03 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Feb 7.

  
WEEKLY NATIONAL GRAIN MARKET REVIEW

   Improved export sales and winter wheat crop concerns pushed wheat bids 
sharply higher for the week.  Cold weather continued to linger around winter
wheat growing areas last week with no real beneficial moisture reported.
Some damage has been reported but nothing severe as yet but traders remain
worried with forecasts calling for more cold weather this weekend.  Corn bids
were sharply higher in reaction to higher wheat and early week gains seen in
soybean pits.  The lack of good moisture across the Corn Belt regions this
winter is also a concern and lending some support to both corn and soybean
bids.  Soybean bids traded up and down with good gains early to mid week but
losses were seen late in the week.  South Korea’s light bean purchases this 
week and rainy weather in Argentina and Southern Brazil pressured bean bids.
Wheat 7 to 13 cents higher.  Corn 2 to 9 cents higher.  Sorghum 2 to 6 cents
higher.  Soybeans 3 to 6 cents lower.

EXPORT SALES:
PURCHASER               COMMODITY                 TONNAGE     DELIVERY DATE
Japan              13 pct Hard Red Winter Wheat    20,000     April
                   14 pct Dark No Spring Wheat     20,000     April
CCC Ethiopia       Hard Red Winter Wheat          108,400     Feb-Mar
Japan              Feed Barley                     20,000     April
South Korea        Soybeans                        55,000     Mar 1-20 
South Korea        Soybeans                        50,000     Apr-July

Totals:  Wheat 148,400 tonnes.  Feed Barley 20,000 tonnes.  Soybeans 105,000 
tonnes.
**THESE MAY NOT BE THE ONLY EXPORT SALES THAT HAVE TRANSPIRED, BUT THEY ARE
  THE ONLY SALES THAT COULD BE CONFIRMED BY THE USDA GRAIN MARKET NEWS.** 
  
   WHEAT:  Kansas US No 1 Hard Red Winter, ordinary protein rail bid 11 1/2
cents higher from 4.08 3/4-4.18 3/4 per bushel.  Kansas City US No 2 Soft Red 
Winter rail bid 8 1/2 cents higher from 3.36 3/4-3.66 3/4 per bushel.  St. Louis 
truck US No 2 Soft Red Winter terminal bid 12-13 cents higher from 3.62-3.74 per 
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0-14.5 percent 
protein rail, 11 to 13 cents higher from 4.44 1/4-4.54 1/4 per bushel.  Portland 
US Soft White Wheat, 7 to 8 cents higher from 3.87-3.90 per bushel.
  
   CORN:  Kansas City US No 2 rail White Corn steady to 1 cent higher from 3.21-
3.22 per bushel.  US No 2 truck Yellow Corn 6 to 9 cents higher from 2.49 per 
bushel.  Omaha US No 2 truck Yellow Corn 3 cents higher from 2.31-2.32 per 
bushel.  Chicago US No 2 Yellow Corn 1/2 to 2 cents higher from 2.37-2.46 per
bushel.  Toledo US No 2 rail Yellow corn 4 cents higher from 2.48-2.52 per 
bushel.  Minneapolis US No 2 Yellow Corn rail, 2 cents higher at 2.20 per 
bushel. 
  
   OATS AND BARLEY:  US 2 or Better oats, rail to arrive at Minneapolis was  
2.24 1/4-2.29 1/4.  US No 3 or better truck Malting Barley, 70 percent or better 
plump out of Minneapolis was 10 cents lower at 3.80.  Portland US 2 Barley, unit 
trains and Barges-export 5 to 10 cents higher from 5.65-5.75 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City was 2 cents higher at 4.54 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the 
farmer, fob elevator) was 2 to 6 cents higher from 3.94-4.04 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 3 to 6 cents 
lower from 5.67 1/2-5.74 1/2 bushel.  Kansas City US No 2 Yellow truck soybeans 
4 cents lower at 5.68-5.70 per bushel.  Minneapolis Yellow truck soybeans 6 
cents lower at 5.42 1/2 per bushel.  Decatur 48 percent soybean meal, processor 
rail bid 3.00 lower from 169.50-170.50 per ton.  Decatur crude Soybean oil 
processor bid 4 points higher to 21 points lower at 20.88-21.38 cents per pound.  
Sunflower Crude Oil 34 points higher at 32.96 cents per pound.
  
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

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STAT News Service

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