USDA National Grain Review

ST. JOSEPH - Dec 19/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Dec 19.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids closed higher.  Wheat found
support from the higher corn and concerns of winterkill as high winds and cold
weather moved into the plains.  Lower crop estimates also lend support to wheat.
Weekly export sales for wheat came in at 262,100 tonnes which were below
expectations.  Corn saw gains on fund buying and lower dollar.  However, the
lower crude oil and increase farmer selling limited the gains.  Weekly export
sales for corn came in at 612,500 tonnes which were in line with expectations.
Soybeans rallied on spillover support from wheat.  Weekly export sales for
soybeans were reported at 893,600 tonnes which was above trade estimates.  Wheat
was 20-56 cents higher.  Yellow corn was mostly 33-48 cents higher.  Sorghum was
68 cents higher.  Soybeans were 12-18 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 47
1/2 to 56 1/2 cents higher from 6.10 1/2-6.55 1/2 per bushel.  Kansas City US No
2 Soft Red Winter rail bid was 56 1/2 cents higher from 4.48 1/2-5.48 1/2 per
bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 55 cents
higher at 4.47 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring,
14.0 to 14.5 percent protein rail, no quote per bushel.  Portland US Soft White
wheat rail bid was 20 cents higher from 5.25-5.30 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 54 to 60 cents higher from
3.86-4.03 per bushel.  Kansas City US No 2 truck Yellow Corn was 45 to 48 cents
higher at 3.83 per bushel.  Omaha US No 2 truck Yellow Corn was 33 to 38 cents
higher from 3.74-3.83 per bushel.  Chicago US No 2 Yellow Corn was 47 1/2 to 50
1/2 cents higher from 3.49 1/2-3.70 1/2 per bushel.  Toledo US No 2 rail Yellow
corn was 38 to 40 cents higher from 3.76 1/2-3.79 1/2 per bushel.  Minneapolis
US No 2 Yellow Corn rail was 37 cents lower at 2.55 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 7 1/2 to 12 1/2 cents higher from 2.17-2.22 per bushel.  US No 3 or
better rail malting Barley, 70 percent or better plump out of Minneapolis was 10
cents higher 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 68 cents higher at 5.59 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 67 to 68 cents higher from 4.99-5.18 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, were 12 cents higher at 8.09 1/2
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 13 to 18
cents higher from 8.69 1/2-8.84 1/2 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 13 cents higher at 8.60 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 3.00 lower to 10.00 higher from
266.30-268.30 per ton.  Central Illinois crude Soybean oil processor bid was 77
to 102 points lower from 28.95-29.20 cents per pound.

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

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