USDA National Grain Review

ST. JOSEPH - Jun 29/12 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jun 29.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids traded moderate to sharply
higher as hot and dry weather conditions lend support.  Record high temperatures
for many areas of the Midwest with very little chance of rain is pricing in
lower yields and decreasing crop conditions.  The triple digit temperatures are
certainly not good for corn pollination.  Corn had bearish export sales of
292,800 tonnes.  Soybean export sales came in at 793,100 tonnes with 403,900
tonnes for 2011-2012.  Wheat export sales were listed at 324,500 tonnes.  The
USDA reports released Friday morning listed soybean acreage at 76.08 million
which was in the higher end of estimates gaining 2.18 million.  Corn acreage was
also increased, gaining 550,000 acres to 96.41 million which was higher than the
average trade estimate but within the range.  All wheat acreage came in at 56.02
million which was slightly higher than March's estimates.  The quarterly grain
stocks reports listed corn stocks at 3.149 billion bushels which was slightly
below the average trade estimate.  Soybean stocks came in at 667 million bushels
which was above trade estimates.  Wheat stocks came in at 743 million bushels.
   Wheat was mostly 10-52 cents higher.  Yellow Corn was 40-65 cents higher with
while corn trading 22-42 cents higher.  Sorghum was 1.05-1.17 higher.  Soybeans
were 22-29 cents higher.
   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 19
to 52 cents higher from 7.70-8.65 per bushel.  Kansas City US No 2 Soft Red
winter rail bid was 52 cents higher from 7.20-7.70 per bushel.  St. Louis truck
US No 2 Soft Red Winter terminal bid was 65 cents higher at 7.33 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 25 cents lower to 10 cents higher from 9.09 3/4-9.49 3/4 per
bushel.  Portland US Soft White wheat rail was 35 to 40 cents higher from 7.50-
7.55 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 22 to 42 cents higher from
6.69-7.04 per bushel.  Kansas City US No 2 truck Yellow Corn was 48 to 53 cents
higher from 6.87-6.92 per bushel.  Omaha US No 2 truck Yellow Corn was 50 to 55
cents higher from 6.71-6.79 per bushel.  Chicago US No 2 Yellow Corn was 55 1/2
to 65 1/2 cents higher from 6.52-6.92 per bushel.  Toledo US No 2 rail Yellow
corn was 54 1/2 to 55 1/2 cents higher from 6.72-6.77 per bushel.  Minneapolis
US No 2 Yellow corn rail was 40 3/4 cents higher at 6.32 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 19 3/4 cents higher from 3.49-3.64 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was 15 cents
higher at 7.15 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 1.05 higher at 10.64 per cwt.
Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob
elevator) was 1.12 to 1.17 higher from 11.11-11.16 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 29 1/44 cents higher at
14.48 1/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 23
1/2 to 24 1/2 cents higher from 14.83-14.90 per bushel.  Kansas City US No 2
Yellow truck soybeans were 22 cents higher at 14.76 per bushel.  Central
Illinois 48 percent Soybean meal, processor rail bid was 1.40 lower to 60 cents
higher from 420.60-438.60 per ton.  Central Illinois Crude Soybean oil processor
bid was 111 points higher from 49.17-49.92 cents per pound.

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

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