USDA National Grain Review

ST. JOSEPH - Mar 14/03 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Mar 14.

  
WEEKLY NATIONAL GRAIN MARKET REVIEW

   Wheat and corn bids finished sharply lower for the week.  Wheat received
pressure from improved weather conditions in winter wheat areas this week as
wet weather conditions were reported.  Warmer temperatures were also in the 
forecasts but most important was the moisture benefit.  Still, many dry areas 
remain in the Western Belt where moisture was too scattered to offer much 
relief.  Fairly good export sales numbers for wheat this week, limited losses 
but yearly figures are still too low for all commodities.  Corn bids weakened 
due to fund selling on the Boards and good moisture reported across the Corn 
Belt this week.  Farmers are struggling to prepare fields for planting but top
soil moisture levels have a ways to go.  Weekly export inspection figures were
poor this week and year ago numbers are down substantially.  Soybean bids 
regained early week losses due to fund buying and much improved export sales.
Additional support stemmed from tight carryout stock due to increased foreign
sales.  Wheat 12 to 37 cents lower.  Corn 2 to 11 cents lower.  Sorghum 9 to 17 
cents lower.  Soybeans 12 to 15 cents higher.

EXPORT SALES:
PURCHASER               COMMODITY                 TONNAGE     DELIVERY DATE
CCC Mozambique            Hard Red Winter Wheat    17,000      Mar 20-30 
South Korea      11.5 pct Hard Red Winter Wheat     1,000      Apr 25-May 25
                 14.0 pct Dark No Spring Wheat      1,500
                  8.5 pct Western/Soft White Wheat  1,500
                 10.5 pct Western/Soft White Wheat  2,000
Taiwan              Hard Red Winter Wheat          13,000      Mar 25-Apr 10
                    Dark Northern Spring Wheat     24,000
                    Soft White Wheat                3,000
CCC Bangladesh     9.5 pct Hard Red Winter Wheat   17,000      Apr 1-25
Japan             11.7 pct Hard Red Winter Wheat   37,000      May 11-June 10
                  13.0 pct Hard Red Winter Wheat   12,000
                  14.0 pct Dark No Spring Wheat    33,000
                  Western White Wheat               8,000
South Korea       11.5 pct Hard Red Winter Wheat    3,000      May 10-June 10
                  14.0 pct Dark No Spring Wheat     4,500
                   9.5 pct Western/Soft White Wheat 6,000
                  10.5 pct Western/Soft White Wheat 4,000
Taiwan              Corn                           56,000      Apr-May
Taiwan              Corn                           23,000      Mar/Apr
Taiwan              Soybeans                       12,000      Mar/Apr

Totals:  Wheat 187,500 tonnes.  Corn 79,000 tonnes.  Soybeans 12,000 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 12 1/2 
cents lower from 3.77 1/2-3.87 1/2 per bushel.  Kansas City US No 2 Soft Red 
Winter rail bid 12 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 13 to 17 cents lower from 3.20-
3.41 per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0-
14.5 percent protein rail, 20 to 23 cents lower at 4.33 3/4-4.38 3/4 per bushel.  
Portland US Soft White Wheat, 37 cents lower from 3.43-3.45 per bushel.
  
   CORN:  Kansas City US No 2 rail White Corn 10 cents lower from 3.04-3.05 
per bushel.  US No 2 truck Yellow Corn 4 cents lower at 2.44-2.46 per bushel.  
Omaha US No 2 truck Yellow Corn 3 to 4 cents lower at 2.29 per bushel.  Chicago 
US No 2 Yellow Corn 2 3/4 to 4 3/4 cents lower from 2.39 1/2-2.45 per bushel.  
Toledo US No 2 rail Yellow corn 4 3/4 cents lower from 2.44 1/2-2.49 1/2 per 
bushel.  Minneapolis US No 2 Yellow Corn rail, 5 3/4 cents lower at 2.24 1/2
per bushel. 
  
   OATS AND BARLEY:  US 2 or Better oats, rail to arrive at Minneapolis was  
28 1/2 to 33 1/2 cents lower from 1.88 1/2-1.93 1/2.  US No 3 or better truck 
Malting Barley, 70 percent or better plump out of Minneapolis was 5 cents
lower at 3.75.  Portland US 2 Barley, unit trains and Barges-export 12 1/2 to 5 
cents higher from 5.80-5.90 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City was 17 cents lower at 4.21 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the 
farmer, fob elevator) was 9 cents lower from 3.81-4.06 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 14 to 15 cents
higher from 5.81 1/4-5.87 1/4 bushel.  Kansas City US No 2 Yellow truck soybeans 
14to 15 cents higher at 5.77-5.80 per bushel.  Minneapolis Yellow truck soybeans 
13 cents higher at 5.59 1/4 per bushel.  Decatur 48 percent soybean meal, 
processor rail bid steady to 1.00 higher from 176.50-178.50 per ton.  Decatur 
crude Soybean oil processor bid 34 points higher at 21.38-21.63 cents per pound.  
Sunflower Crude Oil 28 points lower at 32.84 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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