USDA National Grain Review

ST. JOSEPH - Jun 24/11 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jun 24.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids were moderate to sharply lower.
Early in the week the grains had support from outside markets as the stock
market, crude oil was higher and the dollar lower.  Flooding concerns and rumors
of China buying corn helped to support the market.  However, corn was limit down
with wheat and soybeans also having sharp losses as a heavy wave of selling
momentum erupted Wednesday in the grain markets.  The Dow closed lower on
Thursday, with crude oil sharply lower and the dollar index higher which added
additional pressured to the grains.  Weather forecast for next week shows a warm
weather pattern over the Midwest.  The ongoing harvest in the winter wheat areas
contributed to more losses to wheat.  Weekly export sales for soybeans totaled
(old and new crop) of 204,000 tonnes.  Corn had export sales totaling (old and
new crop) of 531,100 tonnes, with old crop sales of 410,800 tonnes.  Wheat had
export sales of 661,300 tonnes.  Wheat was mostly 9-90 cents lower with
Minneapolis 1.47-2.42 lower.  Yellow Corn was 19-24 cents lower.  Sorghum was
34-37 cents lower.  Soybeans were 30-33 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2
to 38 cents lower from 7.60-8.62 per bushel.  Kansas City US No 2 Soft Red
Winter rail bid was 38 cents lower from 7.05-7.95 per bushel.  St. Louis truck
US No 2 Soft Red Winter terminal bid was 9 cents lower at 6.83 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 1.47 1/4 to 2.42 1/4 lower from 10.35 1/2-11.35 1/2 per
bushel.  Portland US Soft White wheat rail was 85 to 90 cents lower from 6.60-
6.75 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 49 to 51 cents lower from
6.46-6.83 per bushel.  Kansas City US No 2 truck Yellow Corn was 23 cents lower
from 6.81-6.86 per bushel.  Omaha US No 2 truck Yellow Corn was 19 cents lower
at 6.73 per bushel.  Chicago US No 2 Yellow Corn was 21 cents lower from 6.76
1/2-6.86 1/2 per bushel.  Toledo US No 2 rail Yellow corn was 21 to 24 cents
lower from 7.05 1/2-7.12 1/2 per bushel.  Minneapolis US No 2 Yellow Corn rail
was 21 cents lower at 6.36 1/2 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 2 1/4 to 7 1/4 cents lower at 3.58 3/4 per bushel.  US No 3 or better
rail malting Barley, 70 percent or better plump out of Minneapolis was steady at
7.50 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 lower at 11.54 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 34 to 37 lower from 11.44-11.52 cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 32 3/4 cents lower at 12.77
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 30 3/4
to 32 3/4 cents lower from 13.36 3/4-13.47 3/4 per bushel.  Kansas City US No 2
Yellow truck soybeans were 33 cents lower at 13.36 per bushel.  Central Illinois
48 percent Soybean meal, processor rail bid was 13.10 lower from 327.60-340.60
per ton.  Central Illinois Crude Soybean oil processor bid was 117 points lower
from 53.65-54.65 cents per pound.

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

---

STAT News Service