USDA National Grain Review

ST. JOSEPH - Jan 8/10 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jan 8.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain bids were higher with soybeans trading lower.
Wheat saw gains on fund buying, a lower dollar, and the Canadian Wheat Board
raising exports by 2 million tonnes to 13.5 million tonnes for this year which
is the highest in 10 years.  However, late in the week the dollar rallied taking
back some profits.  Corn was higher on fund buying, increased usage in ethanol,
light farmer selling, and high crude oil.  Tight U.S./world stocks also lend
support to corn.  Soybeans saw pressure from lack of export interest from China
in the coming weeks as they will start buying soybeans from South America.
China also planning to increase rates which was negative news.  A winter storm
moved across the plains and Midwest dumping moderate to heavy snow along with a
blast of Arctic air.  Snow cover in the winter wheat region is adequate but some
concerns in the south which have no cover may experience freezing and could lead
to damage.  In the Midwest inclement weather is causing disruptions in
transportation, raising basis levels for corn due to light farmer selling.
Weekly export sales for wheat were below trade expectations coming in at 93,400
tonnes.  Weekly export sales for corn were below trade expectations at 364,700
tonnes.  Weekly export sales for soybeans were in line with estimates coming in
at 726,100 tonnes.
   Wheat was mostly 10-23 cents higher.  Yellow Corn was 1-8 cents higher.
Sorghum was 11-16 cents higher.  Soybeans were 11-22 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 15
to 16 cents higher from 5.19 1/4-5.68 1/4 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 14 to 29 cents higher from 4.95 1/4-5.85 1/4 per bushel.
St. Louis truck US No 2 Soft Red Winter terminal bid was 33 cents higher at 4.43
per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 23 1/2 to 58 1/2 cents higher from 7.03 1/2-7.38 1/2
per bushel.  Portland US Soft White wheat rail was 10 cents higher from 4.90-
5.10 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 28 to 30 cents higher from
4.28-4.36 per bushel.  Kansas City US No 2 truck Yellow Corn was 8 cents higher
at 3.98 per bushel.  Omaha US No 2 truck Yellow Corn was 1 to 3 cents higher
from 3.88-3.96 per bushel.  Chicago US No 2 Yellow Corn was 8 cents higher from
3.72 1/2-3.94 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 3 to 7 cents
higher from 3.76 1/2-3.77 1/2 per bushel.  Minneapolis US No 2 Yellow Corn rail
was 6 cents higher at 3.53 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 3 cents lower from 2.64-2.74 per bushel.  US No 3 or better rail malting
Barley, 70 percent or better plump out of Minneapolis was steady at 3.50 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 11 cents higher at 6.27 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 16 cents higher from 6.38-6.60 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, no bid.  Illinois Processors US No
1 Yellow truck soybeans were 11 3/4 to 22 3/4 cents lower from 10.21-10.29 per
bushel.  Kansas City US No 2 Yellow truck soybeans were 14 cents lower at 10.01
per bushel.  Central Illinois 48 percent Soybean meal, processor rail bid was
8.90 to 10.90 lower from 321.00-332.00 per ton.  Central Illinois crude Soybean
oil processor bid was 36 to 76 points lower from 35.99-37.24 cents per pound.

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

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