USDA Grain Market Summary for May 11

ST. JOSEPH - May 11/04 - SNS -- The USDA this afternoon released its latest daily summary of grain market conditions in that country.

Daily National Grain Market Summary

   Wheat bids declined today due to more rain forecasted in the plains.  Winter
wheat progress was listed at 55 percent.  Spring wheat plantings came in at 84
percent, with emergence at 49 percent.  Winter wheat crop ratings were down 3
percent at 45 percent.  Corn was mix as traders waiting for the USDA report
tomorrow.  Weekly progress report was at 84 percent complete.  Emergence was
listed at 36 percent.  Soybean saw moderate gains as they position ahead of the
USDA report tomorrow.  Weekly progress came in at 35 percent complete.  Wheat
was 3-10 cents lower.  Corn was 1 cent lower to 1 cent higher.  Sorghum was 1-3
cents higher.  Soybeans were 9-14 cents higher.

EXPORT SALES:
PURCHASER                 COMMODITY            TONNAGE        DELIVERY DATE

Nothing new to report.

**THESE MAY NOT BE THE ONLY EXPORT SALES THAT HAVE TRANSPIRED, BUT THEY ARE THE
ONLY SALES THAT COULD BE CONFIRMED BY USDA GRAIN MARKET NEWS.**

                             DATE                CHANGE           YEAR AGO
TRUCK BIDS:                  05/11/04            05/10/04         05/13/03

Wheat:
   Kansas City (HRW ORD)     3.87-3.88           dn 10-9          3.74-3.77
   Minneapolis (DNS)         4.34 3/4            dn 3 3/4         4.10
   Portland (SWW)            4.28-4.31           up 1-dn 2        3.47-3.55
   St. Louis (SRW)           3.74-3.76           dn 6             3.43

Corn, US No 2 Yellow:
   Kansas City               2.83-2.84           dn 1-unch        2.54-2.55
   Minneapolis               2.89 1/4            dn 1/4           2.44 3/4
   So. Iowa                  2.96-2.98           unch         2.52 1/2-2.53
   Omaha                     2.79-2.80           up 1-unch        2.42

Soybeans, US No 1 Yellow:
   Kansas City              10.50                up 12            6.44-6.45
   Minneapolis              10.37 1/4            up 14 3/4        6.30 1/4
   So. Iowa                 N/A                               6.37 1/2-6.39
   Cent. Il Processor   10.37 1/4-10.57 1/4      up 9 3/4     6.43 1/4-6.56 1/4

 **Minneapolis truck - to arrive 20 days**

FUTURES:
   Kansas City  (Jul)  Wheat     3.98            dn 9             3.44
   Minneapolis  (Jul)  Wheat     4.18 3/4        dn 4 3/4         3.70
   Chicago      (Jul)  Wheat     3.79 1/4        dn 6 1/4         3.31 1/4
   Chicago      (Jul)  Corn      2.99 1/4        up 3/4           2.52 3/4
   Chicago      (Jul)  Soybeans 10.22 1/4        up 9 3/4         6.44 1/4

EXPORT BIDS:  Barge bids out of the Port of New Orleans, or Rail out of the
North Texas Gulf.  Bids per bushel, except sorghum per cwt.

US 1 HRW Wheat, Ord Protein:
     Rail   4.43-4.47                 dn 9-8                      4.04-4.09
US 2 Soft Red Winter Wheat:
     Barge  3.99                      dn 6 1/4-8 1/4          3.69 1/4-3.71 1/4
US 2 Yellow Corn
     Barge  3.24 1/4-3.24 3/4         up 1 1/4                    2.80 3/4
US 2 Sorghum
     Rail   5.24-5.52                 up 3-1                      4.78-5.05
     Barge  5.61                      up 1                        4.78
US 2 Yellow Soybeans
     Barge  10.72 1/4-10.74 1/4       up 9 3/4-10 3/4         6.68 1/4-6.70 1/4

S0URCE:  USDA- MO Dept OF Ag Market News Service, St. Joseph, MO
         Baldemar Ortiz, Market Reporter (816)238-0678
         www.ams.usda.gov/mnreports/SJ_GR850.txt

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