USDA National Grain Review

ST. JOSEPH - Dec 5/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Dec 5.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids were sharply lower.  The grain
markets saw spillover pressure from the sharply lower Stock Market, along with
the lower crude oil.  Winter wheat sales and a sharp increase in the Canadian
wheat crop estimate was negative news in the wheat trading floor.  Weekly export
sales for wheat came in at 207,600 tonnes which was below expectations.
Statistics Canada released its latest estimate of 58-09 wheat production at 28.6
million tonnes which was more than 1 1/2 million tonnes above the average trade
estimate.  Weekly export sales for corn were poor coming in at 392,000 and
soybeans at 364,500 tonnes which were below expectations.  Some support was
noted in the corn pit due to overnight export announcement limiting the losses.
Wheat was mostly 35-63 cents lower.  Corn was 20-40 cents lower.  Sorghum was 57
cents lower.  Soybeans were 55-75 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 39
to 63 cents lower from 5.31-5.73 per bushel.  Kansas City US No 2 Soft Red
Winter rail bid was 63 cents lower from 3.61-4.61 per bushel.  St. Louis truck
US No 2 Soft Red Winter terminal bid was 92 cents lower at 3.32 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 42 cents lower to 8 cents higher from 7.14 1/4-7.69 1/4 per
bushel.  Portland US Soft White wheat rail bid was 35 to 45 cents lower from
4.90-5.05 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 24 to 27 cents lower from
3.42-3.55 per bushel.  Kansas City US No 2 truck Yellow Corn was 31 cents lower
at 3.18 per bushel.  Omaha US No 2 truck Yellow Corn was 33 to 37 cents lower
from 3.17-3.29 per bushel.  Chicago US No 2 Yellow Corn was 20 to 27 cents lower
from 2.89-3.12 per bushel.  Toledo US No 2 rail Yellow corn was 33 to 36 cents
lower from 3.16-3.20 per bushel.  Minneapolis US No 2 Yellow Corn rail was 40
cents lower at 2.75 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 1 1/2 cents lower from 2.08 1/2-2.13 1/2 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was steady at
5.00 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 57 cents lower at 4.59 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was from 3.89-4.00 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was at 7.44 per bushel.  Illinois
Processors US No 1 Yellow truck soybeans were 75 cents lower from 8.01-8.16 per
bushel.  Kansas City US No 2 Yellow truck soybeans were 55 cents lower at 8.01
per bushel.  Central Illinois 48 percent Soybean meal, processor rail bid was
12.70 to 18.70 lower from 245.50-260.50 per ton.  Central Illinois crude Soybean
oil processor bid was 300 points lower from 27.50-28.50 cents per pound.

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

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STAT News Service