USDA National Grain Review

ST. JOSEPH - Jul 2/09 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Jul 2.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain bids were sharply lower with soybeans trading
higher.  Wheat saw spillover pressure from other grains, a higher acreage report
and good harvest weather, along with a higher dollar late in the week.  Corn saw
sharp losses on fund selling, a bearish USDA report, lower outside markets late
in the week, and favorable growing weather across the corn-belt.  Soybeans saw
solid gains on fund buying and a favorable USDA report early in the week.  There
were some surprises in the USDA planted acreage report.  Corn acreage was up by
2.41 million acres from March as estimated corn acres came in at 87 million
acres.  Corn quarterly stocks were higher at 4.27 billion bushels up from 4.19
billion bushels.  Wheat acreage came in at 59.78 million acres up from the
estimate of 58.34 million acres, with wheat stocks at 667 million bushels
slightly below estimates of 670 million bushels.  Soybeans fell within
expectations, but were 830,000 acres less, with quarterly stocks at 597 million
bushels above the estimate of 586 million bushels.  Export sales for wheat were
reported at 241,000 tonnes which was below expectations.  Weekly export sales
for corn were reported at 1.15 million tons of old crop and 117,000 tons of new
crop above trade expectations.  Soybeans were in line with expectations at
193,500 tons of old crop and 250,100 tonnes new crop.
   Wheat was mostly 31-53 cents lower.  Corn was 36-346 cents lower.  Sorghum
was 66-75 cents lower.  Soybeans were 34-50 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 31
to 53 cents lower from 5.39 1/4-6.09 1/4 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 39 cents lower from 4.73 1/4-5.13 1/4 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 51 cents lower at 4.15 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 45 1/2 to 50 1/2 cents lower from 6.82 1/2-6.97 1/2
per bushel.   Portland US Soft White wheat rail bid was steady to 6 cents lower
from 5.60-5.65 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 44 to 46 cents lower from
3.56-3.68 per bushel.  Kansas City US No 2 truck Yellow Corn was 41 to 43 cents
lower from 3.27-3.30 per bushel.  Omaha US No 2 truck Yellow Corn was 39 cents
lower from 3.19-3.23 per bushel.  Chicago US No 2 Yellow Corn was 36 3/4 to 38
3/4 cents lower from 3.20 3/4-3.56 3/4 per bushel.  Toledo US No 2 rail Yellow
corn was 37 3/4 to 38 3/4 cents lower from 3.45 3/4-3.51 3/4 per bushel.
Minneapolis US No 2 Yellow Corn rail was 36 3/4 cents 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 21 1/2 cents higher from 2.24 1/2-2.29 1/2 per bushel.  US No 3 or
better rail malting Barley, 70 percent or better plump out of Minneapolis was 40
cents lower at 4.25 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 75 cents lower at 5.02 per
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the
farmer, fob elevator) was 66 to 70 cents lower from 4.65-4.75 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, were 50 cents higher at 12.34 per
bushel.  Illinois Processors US No 1 Yellow truck soybeans were 34 to 37 cents
higher from 12.36-12.64 per bushel.  Kansas City US No 2 Yellow truck soybeans
were 35 cents higher at 12.32 per bushel.  Central Illinois 48 percent Soybean
meal, processor rail bid was 13.90 to 14.90 higher from 424.20-435.20 per ton.
Central Illinois crude Soybean oil processor bid was 136 points lower from
32.18-33.18 cents per pound.

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

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STAT News Service