USDA National Grain Review

ST. JOSEPH - Mar 21/03 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Mar 21.

  
WEEKLY NATIONAL GRAIN MARKET REVIEW

   Wheat bids finished sharply lower for the second week as favorable growing
weather in winter wheat areas weighed on bids.  Corn bids were slightly lower
in reaction to beneficial moisture across the Corn Belt this week.  Soybean bids 
were firm for the week due to export optimism and carryover support from
late week trading.  Wheat steady to 13 cents lower.  Corn steady to 2 cents 
lower.  Sorghum mixed.  Soybeans steady to 1 cent higher.
   Good rainfall was reported in hard red winter wheat areas this week which
kept pressure on bids.  Weekly exports were better than trade expectations
but not enough to spur a rally in wheat pits.
   Weekly export sales for corn were positive but yearly figures need to 
improve greatly.  Moisture across the Corn Belt this week and lower wheat
trade, weakened corn bids.

EXPORT SALES:
PURCHASER               COMMODITY                 TONNAGE     DELIVERY DATE
CCC Ghana       14.5 pct Northern Spring Wheat      5,940      Apr 1-15 
CCC Mauritania   9.5 pct Soft Red Winter Wheat      7,500      Apr 1-15
South Korea     11.5 pct Hard Red Winter Wheat      5,500      Apr 25-Jun 20
                14.0 pct Dark No Spring Wheat      12,000
                10.5 pct Western/Soft White Wheat  10,800
                10.0 pct Western/Soft White Wheat   6,000
                 8.5 pct Western/Soft White Wheat   1,800
Japan           11.7 pct Hard Red Winter Wheat     40,000      MAY 11-Jun 10
                Western White Wheat                20,000
Egypt           Soft White Wheat                   60,000      Apr 16-30
Taiwan          Hard Red Winter Wheat              21,320      Apr 10-25
                Dark Northern Spring Wheat         52,200
                Soft White Wheat                    8,350Unknown                   
Corn                    199,136      Aug 31
Taiwan                    Corn                     56,000      Apr-May
Totals:  Wheat 251,410 tonnes.  Corn 255,136 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 7 cents   
lower from 3.70 1/2-3.80 1/2 per bushel.  Kansas City US No 2 Soft Red Winter 
rail bid 6 cents lower from 3.10 1/2-3.40 1/2 per bushel.  St. Louis truck US 
No 2 Soft Red Winter terminal bid steady to 6 cents lower from 3.20-3.35 per 
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0-14.5 percent 
protein rail, 13 cents lower from 4.20 3/4-4.25 3/4 per bushel.  Portland US 
Soft White Wheat, 4 to 5 cents lower from 3.38-3.41 per bushel.
  
   CORN:  Kansas City US No 2 rail White Corn steady from 3.04-3.05 per bushel.  
US No 2 truck Yellow Corn steady to 2 cents lower at 2.44 per bushel.  Omaha US 
No 2 truck Yellow Corn steady to 1 cent lower at 2.28-2.29 per bushel.  Chicago 
US No 2 Yellow Corn 3/4 cent higher to 1 3/4 cents lower from 2.37 3/4-2.45 3/4 
per bushel.  Toledo US No 2 rail Yellow corn 1 3/4 cents lower from 2.42 3/4-
2.47 3/4 per bushel.  Minneapolis US No 2 Yellow Corn rail, 3/4 cent lower at 
2.23 3/4 per bushel. 
  
   OATS AND BARLEY:  US 2 or Better oats, rail to arrive at Minneapolis was  
10 3/4 cents higher from 1.99 1/4-2.04 1/4.  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 5 to 10 cents
higher from 5.90-5.95 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City was 4 cents lower at 4.17 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the 
farmer, fob elevator) was 1 cent lower to 9 cents higher from 3.90-4.05 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 3/4 cent lower
from 5.80 1/2-5.86 1/2 bushel.  Kansas City US No 2 Yellow truck soybeans 
steady to 1 cent higher at 5.78-5.80 per bushel.  Minneapolis Yellow truck 
soybeans 1 1/4 cents higher at 5.60 1/2 per bushel.  Decatur 48 percent soybean 
meal, processor rail bid 3.50 to 4.50 lower from 173.00-174.00 per ton.  Decatur 
crude Soybean oil processor bid 50 points higher at 21.88-22.13 cents per pound.  
Sunflower Crude Oil 19 points higher at 33.03 cents per pound.
  
SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO

---

STAT News Service

The subscriber version of the article is available by Clicking here