USDA National Grain Review

ST. JOSEPH - Sep 5/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Sep 5.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain bids were lower with the sharp declines noted in soybeans.
Trading resumed Tuesday as commodity and financial markets were closed on Monday
due to the Labor Day Holiday.  Markets opened sharply on the down side as the
lower energy markets and higher dollar pressured bids and continued throughout
most of the week.  However, wheat did recover some of its losses on good export
demand.  Rains from Hurricane Gustav moved in land providing much needed
moisture in some dry areas of the soybean belt which pressured the soy complex.
The crop ratings for corn came in at 61 percent good to excellent which was down
3 percent from last week and soybeans at 57 percent good to excellent which was
4 percent lower than last week.  Wheat was mostly 24-35 cents lower.  Corn was
mostly 15-26 cents lower.  Sorghum was 14-38 cents lower.  Soybeans were 89
cents to 1.29 lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 28
3/4 to 29 3/4 cents lower from 7.79-8.31 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 28 3/4 cents lower from 6.21-7.11 per bushel.  St. Louis
truck US No 2 Soft Red Winter terminal bid was 13 cents higher at 5.37 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 24 to 69 cents lower from 8.71 1/4-8.96 1/4 per
bushel.  Portland US Soft White wheat rail bid was 25 to 35 cents lower from
7.75-7.90 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 26 to 32 cents lower from
5.76-5.87 per bushel.  Kansas City US No 2 truck Yellow Corn was 23 to 25 cents
lower from 5.35-5.37 per bushel.  Omaha US No 2 truck Yellow Corn was 17 to 19
cents lower from 5.36-5.37 per bushel.  Chicago US No 2 Yellow Corn was 10 1/2
to 15 1/2 cents lower from 5.04 1/2-5.49 1/2 per bushel.  Toledo US No 2 rail
Yellow corn was 21 1/2 cents lower from 5.19 1/2-5.28 1/2 per bushel.
Minneapolis US No 2 Yellow Corn rail was 17 1/2 cents lower at 5.04 1/2 per
bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was not available.  US No 3 or better rail malting Barley, 70 percent or
better plump out of Minneapolis was 40 cents lower at 6.50 per bushel.  Portland
US 2 Barley, unit trains and Barges-export was 25 to 50 cents lower from 10.75-
11.50 per cwt.

   SORGHUM:  US No 2 yellow truck, Kansas City was 14 cents lower at 8.57 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 22 to 38 cents lower from 8.37-8.66 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was 1.29 lower at 11.50 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 89 cents lower
from 12.40-12.55 per bushel.  Kansas City US No 2 Yellow truck soybeans were 89
cents lower at 12.60 per bushel.  Central Illinois 48 percent Soybean meal,
processor rail bid was 11.20 to 12.20 lower from 354.40-366.40 per ton.  Central
Illinois crude Soybean oil processor bid was 381 points lower from 47.53-48.53
cents per pound.

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

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STAT News Service