USDA National Grain Review

ST. JOSEPH - Sep 3/10 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Sep 3.

WEEKLY NATIONAL GRAIN MARKET REVIEW

Compared to last week, grain bids closed higher with soybeans trading slight
to modestly lower.  Wheat saw solid gains for the week on concerns regarding
production overseas and South America.  The wheat harvest in Germany is at a
standstill due to rain delays which is also affecting the quality of the crop.
News of Egypt purchasing 225,000 tonnes of wheat during the week and the rally
in the outside markets, along with a sharply lower dollar sparked the market.
Weekly export sales were supportive coming in at 1.024 million metric tonnes.
Spring wheat is estimated at 69 percent harvested, compared to 53 percent last
week.
Corn was higher on strong demand and lighter than expected yields.  A lower
dollar and higher crude oil gave the market momentum.  Weekly export sales for
corn were reported at a total of 1,658,200 tonnes.  Harvest is on going in the
southern and eastern corn-belt with lower yields reported than last year.  A few
factors that may have contributed are too much rain back in the spring which may
have leached nitrogen from the fields and hot weather.
Soybeans declined on follow-through selling and concerns of bigger than
expected supplies in South America.  Weekly export sales for Soybeans came in at
a total of 613,900 tonnes.  Heavy rain moved in parts of the Midwest with some
areas of the western corn-belt reporting up to five inches of rain.
Wheat was mostly 20-47 cents higher.  Corn was 9-22 cents higher.  Sorghum
was 32-79 cents higher.  Soybeans were mostly 5-45 cents lower.

WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 1
1/4 to 10 1/4 cents higher from 6.72 1/4-7.32 1/4 per bushel.  Kansas City US No
2 Soft Red Winter rail bid was 27 1/4 cents higher from 6.63 1/4-7.53 1/4 per
bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 47 cents
higher at 6.61 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 19 3/4 to 34 3/4 cents higher
from 8.10-8.45 per bushel.  Portland US Soft White wheat rail was 20 to 40 cents
higher from 6.45-6.60 per bushel.

CORN:  Kansas City US No 2 rail White Corn was 18 to 16 cents higher from
3.95-4.00 per bushel.  Kansas City US No 2 truck Yellow Corn was 22 cents higher
from 4.01-4.04 per bushel.  Omaha US No 2 truck Yellow Corn was 19 to 20 cents
higher from 3.92-4.00 per bushel.  Chicago US No 2 Yellow Corn was 11 to 17
cents higher from 3.82 1/2-4.36 1/2 per bushel.  Toledo US No 2 rail Yellow corn
was 9 cents higher from 4.04 1/2-4.07 1/2 per bushel.  Minneapolis US No 2
Yellow Corn rail was 10 cents higher at 3.76 1/2 per bushel.

OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 14 1/2 to 1 1/2 cents higher from 2.74-2.89 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 79 cents higher at 7.43 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 32 to 37 cents higher from 7.02-7.10 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was 45 1/2 cents lower at 9.40 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 5 1/2 to 35 1/2
cents lower from 10.24-10.34 per bushel.  Kansas City US No 2 Yellow truck
soybeans were 1 cent lower at 10.49 per bushel.  Central Illinois 48 percent
Soybean meal, processor rail bid was 2.10 to 6.10 lower from 323.20-335.20 per
ton.  Central Illinois crude Soybean oil processor bid was 17 to 42 points
higher from 36.01-37.31 cents per pound.

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

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