USDA National Grain Review

ST. JOSEPH - Nov 21/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Nov 21.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids closed lower. This week’s sell-
off in the Stock Market as it has reached a six year low, coupled with economic
concerns and higher dollar diminished the gains.  Economic crisis is adding to a
negative price action in the grains as traders are looking close at demand
prospects.  Dry weather continues through the Midwest with most harvest areas
expected to remain dry.  This should allow many farmers to complete corn and
soybean harvest.  Wheat export sales were above expectations at 511,000 tonnes.
Corn export sales were in line with expectations at 433,800 tonnes.  Soybean
export sales were strong this week at 790,000 tonnes.  Wheat closed mostly 11-51
cents lower.  Corn traded 6-14 cents lower.  Sorghum traded 23 cents lower.
Soybeans closed 36-40 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 39
3/4 to 51 3/4 lower from 5.63 1/4-6.13 1/4 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 19 3/4 cents lower from 4.13 1/4-5.13 1/4 per bushel.
St. Louis truck US No 2 Soft Red Winter terminal bid was 11 cents lower at 4.08
per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 58 3/4-83 3/4 lower from 7.14 1/4-7.44 1/4 per bushel.
Portland US Soft White wheat rail bid was steady to 5 cents lower from 5.20-5.25
per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 4 to 8 cents higher from 4.01-
4.10 per bushel.  Kansas City US No 2 truck Yellow Corn was 13 cents lower at
3.59 per bushel.  Omaha US No 2 truck Yellow Corn was 5 to 6 cents lower from
3.56-3.74 per bushel.  Chicago US No 2 Yellow Corn was 13 1/4-14 1/4 cents lower
from 3.18 3/4-3.48 3/4 per bushel.  Toledo US No 2 rail Yellow corn was 10 1/4
to 13 1/4 cents lower at 3.58 3/4-3.61 3/4 per bushel.  Minneapolis US No 2
Yellow Corn rail was 5 1/4 lower at 3.25 3/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was at 2.01 1/4-2.06 1/4 per bushel.  US No 3 or better rail malting Barley,
70 percent or better plump out of Minneapolis was at 5.10 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 23 cents lower at 5.34 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 23 cents lower from 4.98-5.08 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was 40 cents lower at 8.01 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 36-38 cents
lower from 8.46-8.51 per bushel.  Kansas City US No 2 Yellow truck soybeans were
38 cents lower at 8.26 per bushel.  Central Illinois 48 percent Soybean meal,
processor rail bid was 6.80 lower from 257.20-264.20 per ton.  Central
Illinois crude Soybean oil processor bid was 218-243 points lower from 28.38-
29.63 cents per pound.

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

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STAT News Service