USDA National Grain Review

ST. JOSEPH - Feb 28/03 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Feb 28.

  
WEEKLY NATIONAL GRAIN MARKET REVIEW

   Wheat bids fell sharply lower for the week as technical selling on the
Boards and a disappointing weekly export number, added weakness.  Wheat export
inspections were at 166 thousand versus estimates of 300 to 400 thousand tons.
Yearly numbers continued to drop even further.  Corn bids slipped lower in 
reaction to lower wheat trade.  Weekly export inspections for corn, however, 
was better than trade expectations at 694 thousand metric tons.  The yearly 
figures are over 4 million metric tons behind a year ago.  Soybean bids were 
higher most of the week and ended sharply higher.  The major factor was
technical support due to new highs in futures contracts for March and May.
Lower weekly export inspection numbers limited gains and yearly figures 
continue to decline along with wheat and corn.  Wheat 3 to 32 cents lower.
Corn 3 to 5 cents lower.  Sorghum 5 to 10 cents lower.  Soybeans 11 to 13 
cents higher.

EXPORT SALES:
PURCHASER               COMMODITY                 TONNAGE     DELIVERY DATE
Japan             Dark Northern Spring Wheat       20,000      Apr-May
CCC Haiti         12 pct Hard Red Winter Wheat      8,000      Mar 4-21
                  Northern Spring Wheat             8,060 
CCC Cape Verde    Yellow Corn                       6,380      Mar 5-15

Totals:  Wheat 36,060 tonnes.  Corn 6,380 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 24 1/2 
to 25 1/2 cents lower from 3.79 1/2-3.90 1/2 per bushel.  Kansas City US No 2 
Soft Red Winter rail bid 19 1/2 cents lower from 3.16 1/2-3.46 1/2 per bushel.  
St. Louis truck US No 2 Soft Red Winter terminal bid 17 to 24 cents lower from 
3.41-3.50 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 
14.0-14.5 percent protein rail, 32 1/4 cents lower at 4.33 1/4 per bushel.  
Portland US Soft White Wheat, 1 to 3 cents lower from 3.83-3.84 per bushel.
  
   CORN:  Kansas City US No 2 rail White Corn steady from 3.14-3.16 per bushel.  
US No 2 truck Yellow Corn 3 to 4 cents lower at 2.42 per bushel.  Omaha US No 2 
truck Yellow Corn 4 cents lower at 2.24-2.25 per bushel.  Chicago US No 2 Yellow 
Corn 3 1/4 to 4 3/4 cents lower from 2.34 1/4-2.40 3/4 per bushel.  Toledo US No 
2 rail Yellow corn 4 1/4 to 5 1/4 cents lower from 2.41 1/4-2.44 1/4 per bushel.  
Minneapolis US No 2 Yellow Corn rail, 3/4 cents higher at 2.22 1/4 per bushel. 
  
   OATS AND BARLEY:  US 2 or Better oats, rail to arrive at Minneapolis was  
2 1/2 to 3 1/2 cents higher from 2.30-2.35.  US No 3 or better truck Malting 
Barley, 70 percent or better plump out of Minneapolis was 5 cents higher at
3.80.  Portland US 2 Barley, unit trains and Barges-export steady to 5 cents 
higher from 5.60-5.65 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City was 5 cents lower at 4.24 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the 
farmer, fob elevator) was 9 to 10 cents lower from 3.78-4.02 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 11 1/2 cents 
higher from 5.83-5.92 bushel.  Kansas City US No 2 Yellow truck soybeans 11
to 12 cents higher at 5.82-5.84 per bushel.  Minneapolis Yellow truck soybeans 
13 cents higher 5.63 1/2 per bushel.  Decatur 48 percent soybean meal, processor 
rail bid 8.50 to 9.50 higher from 183.00-185.00 per ton.  Decatur crude Soybean 
oil processor bid steady at 21.19-21.44 cents per pound.  Sunflower Crude Oil 
34 points higher at 32.59 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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