USDA National Grain Review

ST. JOSEPH - May 22/09 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 22.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, wheat and soybean bids were higher and corn was lower.
The grains found outside market support from higher crude oil, lower dollar, and
a higher stock market.  Wheat also found support from fund buying and better
than expected export sales.  However, improved weather for the winter and spring
wheat region limited the gains.  Net weekly export sales for wheat came in at
20,200 tonnes for the current marketing year and 543,300 for the next marketing
year.  Soybeans posted the most gains breaking the 12.00 per bushel mark in
Illinois.  Slow farmer selling was reported as farmers were taking advantage of
the dry weather.  Export sales were well above trade expectations for soybeans
coming in at 700,600 tonnes for the current marketing year and 667,000 for next
year.  Soybean meal sales came in at a total of 227,900.  Oil sales came in at
3,500 tonnes.  Corn bids declined due to the reverse in crude oil late in the
week and increased planting activity in the delayed areas of the corn-belt.
Weather was warm and dry all week across the Midwest, allowing farmers get back
into the field.  Net weekly export sales for corn came in at 683,400 tonnes for
the current marketing year and 138,600 for next year which was below
expectations.  Wheat was mostly 3-8 cents higher.  Corn was mostly 4-12 cents
lower.  Sorghum was mostly 7-8 cents lower.  Soybeans were mostly 30-35 cents
higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 3
1/4 to 5 1/4 cents higher from 6.43-7.12 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 3 1/4 cents higher from 5.32-6.07 per bushel.  St. Louis
truck US No 2 Soft Red Winter terminal bid was 8 cents higher at 5.10 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 9 1/4 cents lower to 3/4 cents higher from 7.86 1/2-
8.01 1/2 per bushel.  Portland US Soft White wheat rail bid was 5 to 8 cents
higher from 5.78-5.80 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 5 to 8 cents lower from 4.37-
4.46 per bushel.  Kansas City US No 2 truck Yellow Corn was 5 cents lower from
4.09-4.13 per bushel.  Omaha US No 2 truck Yellow Corn was 4 to 5 cents lower
from 4.04-4.10 per bushel.  Chicago US No 2 Yellow Corn was 4 1/4 cents lower
from 3.98-4.23 per bushel.  Toledo US No 2 rail Yellow corn was 1/4 cents lower
to 1 3/4 cents higher from 4.13-4.20 per bushel.  Minneapolis US No 2 Yellow
Corn rail was 12 1/4 cents lower at 3.89 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 10 cents higher at 2.38 per bushel.  US No 3 or better rail malting
Barley, 70 percent or better plump out of Minneapolis was 5 cents higher at 4.40
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 7 cents lower at 6.41 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 8 cents lower to 10 cents higher at 6.05 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, were 24 1/2 cents higher at 11.65
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 30 1/2 to 32
1/2 cents higher from 12.00-12.10 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 34 to 35 cents higher from 11.75-11.80 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 14.90 to 16.90 higher
from 391.20-403.20 per ton.  Central Illinois crude Soybean oil processor bid
was 21 to 86 points lower from 35.48-36.48 cents per pound.

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

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