USDA National Grain Review

ST. JOSEPH - May 2/03 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 2.

News
  
WEEKLY NATIONAL GRAIN MARKET REVIEW

   Wheat bids were sharply lower for the week.  Beneficial moisture 
fell across winter wheat growing areas leaving traders to expect an 
improvement in crop ratings again next week.  Limiting wheat 
declines were good export sales, especially for white wheat.  Corn 
bids finished moderately lower this week due to poor export 
interest and good planting progress.  Sub soil moisture levels have 
improved greatly over the past couple of week due to beneficial 
rainfall in the Midwest and Eastern Corn Belt areas.  Soybean 
bids regained last week’s losses, supported by higher soybean meal 
and oil demand.  Soybean export sales were also a strengthening 
factor.
   Wheat 5 to 18 cents lower with St. Louis up to 26 cents lower.  
Yellow corn 5 to 7 cents lower.  White corn steady.  Sorghum 15 to 
17 cents lower.  Soybeans 25 to 32 cents higher.

EXPORT SALES:
PURCHASER        COMMODITY                   TONNAGE DELIVERY DATE
South Korea 11.5 pct Hard Red Winter Wheat    37,800 Jun 1-Aug 20
            14.0 pct Dark No Spring Wheat     65,500
            11.0 pct Western/Soft White Wheat  8,500
            10.5 pct Western/Soft White Wheat 52,800
            10.0 pct Western/Soft White Wheat 12,800
             9.5 pct Western/Soft White Wheat 15,100
             9.0 pct Western/Soft White Wheat  1,800
             8.5 pct Western/Soft White Wheat 14,000
                     White Club Wheat            500
CCC Angola           Yellow Corn              14,550  May 15-25 
South Korea          Soybeans                 65,000  Aug-Nov
South Korea          Soybeans                 52,500  Aug

Totals:  Wheat 208,800 tonnes.  Corn 14,550 tonnes.  Soybeans 
117,500 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 10 1/2 to 18 1/2 cents lower from 3.56 3/4-3.76 3/4 per 
bushel.  Kansas City US No 2 Soft Red Winter rail bid 3 1/2 cents 
lower from 3.26 3/4-3.56 3/4 per bushel.  St. Louis truck US No 2 
Soft Red Winter terminal bid 17 to 26 cents lower from 3.04-3.31 
per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 
14.0-14.5 percent protein rail, 5 3/4 cents lower at 3.99 3/4 per 
bushel.  Portland US Soft White Wheat, 14 to 15 cents lower from 
3.33-3.35 per bushel.
  
   CORN:  Kansas City US No 2 rail White Corn steady from 2.98-
3.00 per bushel.  US No 2 truck Yellow Corn 5 to 7 cents lower 
from 2.37-2.38 per bushel.  Omaha US No 2 truck Yellow Corn 6 
cents lower from 2.23-2.25 per bushel.  Chicago US No 2 Yellow 
Corn 5 3/4 cents lower from 2.37 1/2-2.45 1/2 per bushel.  Toledo 
US No 2 rail Yellow corn 5 3/4 to 7 3/4 cents lower from 2.41 1/2-
2.46 1/2 per bushel.  Minneapolis US No 2 Yellow Corn rail, 6 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 11 3/4 cents lower from 1.71 1/4-1.74 1/4 US No 3 
or better truck Malting Barley, 70 percent or better plump out of 
Minneapolis was 35 cents higher at 3.85.  Portland US 2 Barley, 
unit trains and Barges-export steady to 5 to 10 higher from 6.00-
6.05 per cwt.
  
   SORGHUM:  US No 2 yellow truck, Kansas City was 17 cents lower 
at 4.05 per cwt.  Texas High Plains US No 2 yellow sorghum (prices 
paid or bid to the farmer, fob elevator) was 15 cents lower from 
3.76-3.95 per cwt.
    
   OILSEEDS:  Illinois Processors US No 1 Yellow truck Soybeans 29 
to 32 cents higher from 6.36 1/2-6.41 1/2 bushel.  Kansas City US 
No 2 Yellow truck soybeans 25 to 30 cents higher at 6.33 per 
bushel.  Minneapolis Yellow truck soybeans 26 cents higher at 6.16 
1/2 per bushel.  Decatur 48 percent soybean meal, processor rail 
bid 12.00 to 13.00 higher from 195.50-197.50 per ton.  Decatur 
crude Soybean oil processor bid 40 points higher at 22.25-22.70 
cents per pound.  Sunflower Crude Oil 30 points higher at 33.50 
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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