USDA National Grain Review

ST. JOSEPH - Sep 17/10 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Sep 17.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, wheat and soybeans traded lower, while corn and
sorghum were higher.  Corn continues to post gains after a bullish USDA report
last week, which listed yields lower.  The December corn contract is near 5.00
per bushel as compared to 3.18 per bushel a year ago.  Harvest is ongoing in
the southern and eastern corn-belt, while the western corn-belt and the
southern plains experienced delays due to heavy rain.  However, most of the
western and northern corn-belt is anticipating harvest to go in full-swing by
the end of September.  Harvest started early this year due to favorable
weather as last year the inclement weather dragged the season into December.
In some cases corn was left in the field till early spring.  Soybeans were
pushed into negative territory on lower crude oil and the outlook for active
harvest.  The National Oilseed Processors' Association (NOPA) released its
monthly crush report and pegged the August crush at 122.4 million bushels,
slightly above trade expectations. This compares to 124.2 million in July and
112.6 million in August 2009. NOPA soy oil stocks came in at 2.818 billion
pounds, down from 3.026 billion at the end of July and compared with 2.520 at
the end of August 2009.  Wheat lost momentum from last week due to lower than
expected export sales, a lower dollar, and better than expected crop
production in Australia.  However, production concerns in western Canada and
slow planting progress in Russia limit the losses.  Weekly export sales for
corn came in at 584,200 tonnes which were disappointing.  Export sales for
wheat came in at 319,600 tonnes.  Weekly export sales for soybeans came in at
668,600 tonnes.  Wheat was mostly 6-29 cents lower.  Yellow corn was 19-26
cents higher.  Sorghum was 27-587 cents higher.  Soybeans were 10-24 cents
lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
14 1/2 to 29 1/2 cents lower from 6.85 1/2-7.25 1/2 per bushel.  Kansas City
US No 2 Soft Red Winter rail bid was 9 1/2 cents lower from 6.81 1/2-7.71 1/2
per bushel.  St. Louis truck US No 2 Soft Red Winter terminal bid was 6 cents
lower at 6.6571 per bushel.  Minneapolis and Duluth US No 1 Dark Northern
Spring, 14.0 to 14.5 percent protein rail, was 46 to 61 cents lower from 7.58
1/2-8.08 1/2 per bushel.  Portland US Soft White wheat rail was steady from
6.50-6.60 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 33 to 35 cents higher from
4.67-4.74 per bushel.  Kansas City US No 2 truck Yellow Corn was 19 to 21
cents higher from 4.46-4.48 per bushel.  Omaha US No 2 truck Yellow Corn was
25 to 26 cents higher from 4.41-4.43 per bushel.  Chicago US No 2 Yellow Corn
was 25 1/4 cents higher from 4.31-4.85 per bushel.  Toledo US No 2 rail Yellow
corn was 23 1/4 to 25 1/4 cents higher from 4.51-4.56 per bushel.  Minneapolis
US No 2 Yellow Corn rail was 24 1/4 cents higher at 4.34 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 7 1/4 cents lower to 7 3/4 cents higher at 3.12 1/2 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 57 cents higher at 8.41 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 27 to 35 1/2 cents higher from 7.43-7.97 cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was 24 3/4 cents lower at 9.74
1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 24 3/4
cents lower from 10.21 1/4-10.36 1/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 10 cents lower at 10.51 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 20.90 to 22.90 lower from 304.10-
306.10 per ton.  Central Illinois crude Soybean oil processor bid was 27 to 37
points higher from 37.71-39.06 cents per pound.

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

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