USDA National Grain Review

ST. JOSEPH - Dec 23/10 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Dec 23.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids were higher.  Soybeans and corn
had strong buying interest as dry conditions prevail in Argentina’s growing
areas and higher crude oil, along with supply concerns into next year for corn.
Strength from strong export demand and a better than expected monthly Census
Crush report also lend support to soybeans.  Wheat found renewed buying interest
as dryness in the Southern Plains has some concerns on crop conditions and
supply outlook.  However, improved harvest in Australia and better than expected
wheat quality limit the gains in the wheat pits.  Weekly export sales for corn
came in at a net of 906,100 tonnes, all for the current marketing year which was
in line with trade expectations.  This week's export sales for wheat were in
line with trade expectations at 590,500 tonnes for the current marketing year
and 6,500 for next year for a total of 597,000.  Weekly export sales for
soybeans showed net sales of 827,800 tonnes, all for the current marketing year.
Net meal sales came in at 113,500 tonnes for the current marketing year and 700
for next year for a total of 114,200.  Oil sales net at 1,100 tonnes, all for
the current marketing year.  The Census Crush report for November crush was
estimated at 154.99 million bushels which was 500,000 bushels above the average
trade estimate.  This compares to 157.21 million bushels in October and 168.69
million a year ago.  Soy oil came in at 3.304 billion pounds which was slightly
above trade expectations.  Hot weather in Argentina into the weekend also lend
support to beans.
   Wheat was mostly 41-53 cents higher.  Corn was 20-29 cents higher.  Sorghum
was mostly 37-38 cents higher.  Soybeans were 56-61 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 41
3/4 to 42 3/4 cents higher from 7.95-8.40 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 41 3/4 cents higher from 7.89-8.79 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 49 cents higher at 7.83 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 48 to 53 cents higher from 9.93 1/4-10.03 1/4 per
bushel.  Portland US Soft White wheat rail was 10 to 20 cents higher from 7.55-
7.65 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 21 to 29 cents higher from
6.10-6.14 per bushel.  Kansas City US No 2 truck Yellow Corn was 26 to 27 cents
higher from 5.99-6.02 per bushel.  Omaha US No 2 truck Yellow Corn was 20 to 21
cents higher from 5.89-5.94 per bushel.  Chicago US No 2 Yellow Corn was 22 1/2
to 26 1/2 cents higher from 5.69-6.02 bushel.  Toledo US No 2 rail Yellow corn
was 26 1/2 cents higher from 6.05-6.06 per bushel.  Minneapolis US No 2 Yellow
Corn rail has no bid per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 8 cents higher at 3.93 1/2 per bushel.  US No 3 or better rail malting
Barley, 70 percent or better plump out of Minneapolis was 10 cents higher at
5.35 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 37 cents higher at 10.25 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 13 to 38 cents higher from 9.71-10.05 cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans were not available.  Illinois
Processors US No 1 Yellow truck soybeans were 56 1/2 to 58 1/2 cents higher from
13.35 1/2-13.54 1/2 per bushel.  Kansas City US No 2 Yellow truck soybeans were
61 cents higher from 13.20-13.25 per bushel.  Central Illinois 48 percent
Soybean meal, processor rail bid was 16.20 higher from 357.00-365.00 per ton.
Central Illinois crude Soybean oil processor bid was 252 to 272 points higher
from 52.84-53.99 cents per pound.

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

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STAT News Service