USDA National Grain Review

ST. JOSEPH - Jan 15/10 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jan 15.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Grain and soybean bids were lower for the week in reaction to the bearish
USDA stocks report on Tuesday.  The USDA numbers for wheat ending stocks for
2009-2010 were 976 million bushels which was well above the trade estimates of
914 million bushels.  Export sales for wheat were below expectations at 181,900
tonnes for the week.  The USDA report for corn was considered very negative with
the yield increased to 165.2 bushels per acre from 162.9 bushels in December.
Production was up to a new record high of 13.151 billion bushels which was 230
million bushels above last month’s estimate.  U.S. ending stocks came in at
1.764 billion bushels, up from 1.675 billion bushels last month.  Corn continues
this week to reel from large production numbers from USDA report.  Export sales
for corn for the week were below expectations at 327,300 tonnes.  Soybeans
ending stocks for the 2009-2010 came in at 245 million bushels compared to trade
expectations near 235 million bushels in December.  The estimated yield U.S.
yield for 2009-2010 was up to 44.0 bushels per acre from 43.3 last month.  This
was a new record high estimate for production of 3.361 billion bushels. Soybean
crush was increased by 15 million bushels and exports were raised by 35 million.
Soybean export sales still remain strong at 754,100 tonnes which were above
expectations for the week.  Global ending stocks for soybeans were up to 59.8
million tonnes from 57.09 million last month.  Wheat was mostly 11-25 cents
lower.  Yellow Corn was 26-41 cents lower.  Sorghum was 60-66 cents lower.
Soybeans were 39-42 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 11
1/4 to 22 1/4 cents lower from 4.97-5.57 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 23 1/4 cents lower from 4.72-5.62 per bushel.  St. Louis
truck US No 2 Soft Red Winter terminal bid was 19 cents lower at 4.24 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 1 3/4 cents lower to 3 1/4 cents higher from 7.06 3/4-
7.36 3/4 per bushel.  Portland US Soft White wheat rail was 25 cents lower from
4.65-4.85 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 43 to 50 cents lower from
3.78-3.93 per bushel.  Kansas City US No 2 truck Yellow Corn was 37 to 41 cents
lower from 3.57-3.61 per bushel.  Omaha US No 2 truck Yellow Corn was 37 cents
lower from 3.51-3.59 per bushel.  Chicago US No 2 Yellow Corn was 26 1/2 to 36
1/2 cents lower from 3.36-3.68 per bushel.  Toledo US No 2 rail Yellow corn was
34 1/2 to 35 1/2 cents lower from 3.41-3.43 per bushel.  Minneapolis US No 2
Yellow Corn rail was 30 1/2 cents lower at 3.23 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 28 cents lower from 2.36-2.46 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was 10 cents at
3.40 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 66 cents lower at 5.61 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 60 to 65 cents lower from 5.73-6.00 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, no bid.  Illinois Processors US No
1 Yellow truck soybeans were 39 to 40 cents lower from 9.82-9.89 per bushel.
Kansas City US No 2 Yellow truck soybeans were 42 cents lower at 9.59 per
bushel.  Central Illinois 48 percent Soybean meal, processor rail bid was 13.60
to 16.60 lower from 304.40-318.40 per ton.  Central Illinois crude Soybean oil
processor bid was 121 to 146 points lower from 34.78-35.78 cents per pound.

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

---

STAT News Service