USDA National Grain Review

ST. JOSEPH - Aug 20/10 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Aug 20.

WEEKLY NATIONAL GRAIN MARKET REVIEW

Compared to last week, grain and soybean bids closed mixed.  Wheat was all
over the board due to uncertainty in Russia going into planting season and the
future for wheat exports.  However, strong buying interest, strong export
demand and talk that Russia may start importing grain lend support to the
market.  Concerns linger over the dry conditions in Western Argentina and
Australia giving the market some momentum.  Corn saw modest gains on fund
buying and lower crop ratings.  Crop conditions came in at 69 percent good to
excellent from 71 percent a week ago.  In addition corn saw spillover support
from wheat and good export demand.  Corn is rapidly maturing with all the heat
the corn-belt received and in parts of the Southern Midwest there are some
areas that will be ready for harvest by September.  Soybeans looking very
green and continue to mature.  Soybeans saw losses due to cooler weather in
the forecast next week for the western soybean belt, lower crude oil, and
sharply lower stock market.  The NOPA report posted crush at 124.181 million
bushels in July, down from 126.241 in June, but up from 120,920 million a year
ago.  Soy oil stocks were at 3.026 billion pounds at the end of July, from
3.036 billion pounds in June.  Meal exports for June were 407,279 tons, down
from 501,441 in June.  Weekly export sales for corn were good coming in at a
total of 2,888,600 tonnes.  Soybeans had bullish export sales totaling
2,231,100 tonnes.  Wheat export sales totaled 1,412,500 tonnes a 34 month
high.
Wheat was 40 cents lower to 35 cents higher.  Corn was 5-8 cents higher.
Sorghum was 14-20 cents higher.  Soybeans were 9-41 cents lower.

WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
5 1/4 to 14 1/4 cents higher from 6.65 1/4-7.07 1/4 per bushel.  Kansas City
US No 2 Soft Red Winter rail bid was 19 3/4 cents lower from 6.50 1/4-7.40 1/4
per bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 40 cents
lower at 6.09 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 3 3/4 to 28 3/4 cents higher
from 7.81 1/2-8.06 1/2 per bushel.  Portland US Soft White wheat rail was 5
cents lower to 35 cents higher from 6.35-6.45 per bushel.

CORN:  Kansas City US No 2 rail White Corn was 5 to 7 cents higher from
3.73-3.79 per bushel.  Kansas City US No 2 truck Yellow Corn was 5 to 7 cents
higher from 3.76-3.81 per bushel.  Omaha US No 2 truck Yellow Corn was 8 cents
higher from 3.69-3.71 per bushel.  Chicago US No 2 Yellow Corn was 8 cents
higher from 3.69 1/4-3.99 1/4 per bushel.  Toledo US No 2 rail Yellow corn was
8 cents higher from 3.93 1/4-3.96 1/4 per bushel.  Minneapolis US No 2 Yellow
Corn rail was 8 cents higher at 3.66 1/4 per bushel.

OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 8 cents lower at 2.64 per bushel.  US No 3 or better rail malting
Barley, 70 percent or better plump out of Minneapolis was not available 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 14 cents higher at 6.68 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 14 to 20 cents higher from 6.65-6.77 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was 22 1/4 cents lower at 9.75
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 31 1/4
to 41 1/4 cents lower from 10.32 1/4-10.57 1/4 per bushel.  Kansas City US No
2 Yellow truck soybeans were 9 cents lower at 10.47 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 1.10 higher from
321.50-338.50 per ton.  Central Illinois crude Soybean oil processor bid was
132 to 142 points lower from 36.24-37.29 cents per pound.

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

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