USDA National Grain Review

ST. JOSEPH - Jul 27/12 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 27.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids were sharply lower.  Grains
opened in negative territory on bleak economic news from Europe and profit
taking.  By mid-week the markets recovered some of the losses only to drop again
by Thursday despite a sharply lower dollar.  Rains fell in the latter part of
the week across portions of the Plains and Midwest offering some relief to the
soybean crop.  The forecast looks a bit cooler through the weekend and
temperatures are expected to climb after.  Corn had very poor export sales of
negative numbers of -140,400 tonnes total due to China cancellations.  Soybeans
had bullish export sales of 710,500 tonnes with 193,200 slated for 2011-12.
Wheat had bearish export sales of 367,000 tonnes.  Wheat was mostly 42-66 cents
lower.  Yellow Corn was 26-38 cents lower.  Sorghum was 47-48 cents lower.
Soybeans were 63 cents to 1.08 lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 42
to 48 cents lower from 9.00-9.55 per bushel.  Kansas City US No 2 Soft Red
winter rail bid was 48 cents lower from 8.59-9.09 per bushel.  St. Louis truck
US No 2 Soft Red Winter terminal bid was 66 cents lower at 8.49 per bushel.
Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent
protein rail, was 64 1/4 cents lower from 10.07 3/4-10.17 3/4 per bushel.
Portland US Soft White wheat rail was 36 to 40 cents lower from 8.59-8.75 per
bushel.

   CORN:  Kansas City US No 2 rail White Corn was 6 to 16 cents higher from
7.90-8.14 per bushel.  Kansas City US No 2 truck Yellow Corn was 29 cents lower
at 7.99 per bushel.  Omaha US No 2 truck Yellow Corn was 34 cents lower from
7.76-7.79 per bushel.  Chicago US No 2 Yellow Corn was 26 1/2 to 36 1/2 cents
lower from 7.81 1/4-8.06 1/4 per bushel.  Toledo US No 2 rail Yellow corn was 26
1/2 to 28 1/2 cents lower from 8.11 1/4-8.16 1/4 per bushel.  Minneapolis US No
2 Yellow corn rail was 38 1/2 cents lower at 7.59 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 15 3/4 to 20 3/4 cents lower from 3.82 3/4-3.97 3/4 per bushel.  US No 3
or better rail malting Barley, 70 percent or better plump out of Minneapolis was
steady at 7.10 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 48 cents lower at 13.32 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 47 cents lower from 13.41-13.42 per cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans were 63 cents lower at 16.56 3/4
per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 83 cents to
1.08 lower from 16.85 3/4-17.15 3/4 per bushel.  Kansas City US No 2 Yellow
truck soybeans were 72 cents lower at 16.74 per bushel.  Central Illinois 48
percent Soybean meal, processor rail bid was 16.20 lower to 20.80 higher from
550.80-555.80 per ton.  Central Illinois Crude Soybean oil processor bid was 247
to 252 points lower from 49.93-50.88 cents per pound.

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

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STAT News Service