USDA National Grain Review

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

  
WEEKLY NATIONAL GRAIN MARKET REVIEW

   Light pressure was noted in wheat pits this week due to low weekly export
inspection numbers with Japan the major purchaser.  This week only 140 thousand 
tons were booked and year to date figures continued to drop.  On the other hand, 
some strength was received from strong corn sales and technical buying on the 
Boards.  Sharp gains in corn bids stemmed from good export purchases with weekly 
sales at 1.4 million metric tons.  This should help bring the yearly figure up 
somewhat but sales need additional improvement.  Fund buying was also a support 
factor in higher corn bids.  Soybean trade was the flip side of the coin with 
sharp declines noted due to fund and technical selling on the Board.  Weekly 
export sales were within the trade estimate at 339 thousand metric tons but 
yearly figures, like the other commodities, remains low.  
   Wheat mixed, 9 cents lower to 12 cents higher with Minneapolis up to 25 cents
higher.  Corn 6 to 10 cents higher.  Sorghum 12 to 14 cents higher.  Soybeans 15 
to 19 cents lower.

EXPORT SALES:
PURCHASER               COMMODITY                 TONNAGE     DELIVERY DATE
Japan            11.7 pct Hard Red Winter Wheat    25,000      May 11-June 10
                 14.0 pct Dark No Spring Wheat     50,000
                 Western White Wheat               20,000
CCC Afghanistan  Soft White Wheat                  20,000      Mar 18-31
South Korea               Corn                 42,500-52,500   Mar-Apr
Taiwan                    Corn                     56,000      Apr
South Korea      Soybeans                          50,000      May

Totals:  Wheat 115,000 tonnes.  Corn 98,500 to 108,500 tonnes.  Soybeans 
50,000 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 9 1/2 
Cents lower to 9 1/2 cents higher from 3.90-4.00 per bushel.  Kansas City US No 
2 Soft Red Winter rail bid 12 1/2 cents higher from 3.29-3.59 per bushel.  
St. Louis truck US No 2 Soft Red Winter terminal bid 4 cents lower to 4 cents
higher from 3.37-3.54 per bushel.  Minneapolis and Duluth US No 1 Dark Northern 
Spring, 14.0-14.5 percent protein rail, 23 1/2 to 25 1/2 cents higher at 4.56 
3/4 to 4.58 3/4 per bushel.  Portland US Soft White Wheat, 2 to 3 cents lower 
from 3.80-3.82 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 6 to 8 cents higher at 2.48-2.50 per bushel.  Omaha US 
No 2 truck Yellow Corn 8 cents higher at 2.32-2.33 per bushel.  Chicago US No 2 
Yellow Corn 8 to 9 cents higher from 2.42 1/4-2.49 3/4 per bushel.  Toledo US No 
2 rail Yellow corn 8 to 10 cents higher from 2.49 1/4-2.54 1/4 per bushel.  
Minneapolis US No 2 Yellow Corn rail, 8 cents higher at 2.30 1/4 per bushel. 
  
   OATS AND BARLEY:  US 2 or Better oats, rail to arrive at Minneapolis was  
8 to 13 cents lower from 2.22.  US No 3 or better truck Malting Barley, 70 
percent or better plump out of Minneapolis was steady at 3.80.  Portland US 2 
Barley, unit trains and Barges-export 7 1/2 to 10 cents higher from 5.67 1/2-
5.75 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City was 14 cents higher at 4.38 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the 
farmer, fob elevator) was 12 to 13 cents higher from 3.90-4.15 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 15 3/4 to 19 
3/4 cents lower from 5.67 1/4-5.72 1/4 bushel.  Kansas City US No 2 Yellow truck 
soybeans 19 cents lower at 5.63-5.65 per bushel.  Minneapolis Yellow truck 
soybeans 13 1/4 cents lower 5.46 1/4 per bushel.  Decatur 48 percent soybean 
meal, processor rail bid 6.50 to 7.50 lower from 175.50-178.50 per ton.  Decatur 
crude Soybean oil processor bid 15 points lower at 21.04-21.29 cents per pound.  
Sunflower Crude Oil 23 points higher at 33.12 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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