USDA National Grain Review

ST. JOSEPH - May 9/08 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through May 9.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   For the week grain bids and soybeans were moderate to sharply higher.  Wheat
closed higher for the week on strength in corn.  Export sales for wheat came in
at 178,800 tonnes for old crop and 312,900 of new crop.  Corn bids were higher
as positioning ahead of the supply and demand report.  Weather remains
supportive with too many areas in the corn-belt behind in planting.  Heavy
rain moved across the Midwest most of the week keeping farmers from doing field
work and planting. Planting progress has been very slow and more rain is still
in the forecast. Most farmers are running 2-3 weeks behind planting. Weekly
export sales for corn were reported at 337,200 tonnes for old crop and 63,300
tonnes for new crop.  Soybeans closed in higher on the week as the Argentina
farmers strike is still a threat to resume.  Weekly export sales for soybeans
were listed at 41,100 tonnes for old crop and 239,600 tonnes for new crop.
Wheat was mostly 28-32 cents higher.  Yellow corn was mostly 12-19 cents higher.
Sorghum was 23-30 cents higher.  Soybeans were 25-44 cents higher.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was
18 1/2-28 1/2 cents higher from 9.13-10.33 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 28 1/2 cents higher from 8.33-8.68 per bushel.  St.
Louis truck US No 2 Soft Red Winter terminal bid was 32 cents higher at 6.52 per
bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 67 1/4 cents higher at 12.03 1/2 per bushel. Portland
US Soft White wheat rail was not available.

   CORN:  Kansas City US No 2 rail White Corn was 3-4 cents higher from 5.93-
6.02 per bushel.  Kansas City US No 2 truck Yellow Corn was 13-14 cents higher
from 5.95-5.98 per bushel.  Omaha US No 2 truck Yellow Corn was 14-19 cents
higher from 5.87-5.96 per bushel.  Chicago US No 2 Yellow Corn was 13 cents
higher from 5.85 1/4-6.13 1/4 per bushel.  Toledo US No 2 rail Yellow corn was
12-13 cents higher from 5.98 1/4-6.06 1/4 per bushel.  Minneapolis US No 2
Yellow Corn rail was 12 cents higher at 5.63 1/4 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 7 cents higher from 4.02 1/2-4.04 1/2 per bushel. US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis was steady at
7.25 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 23-24 cents higher at 10.13-
10.14 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to
the farmer, fob elevator) was 24-30 cents higher from 10.25-10.43 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, was .25 cents higher at 12.19 per
bushels.  Illinois Processors US No 1 Yellow truck soybeans were 29-35 cents
higher from 12.86-12.95 per bushel.  Kansas City US No 2 Yellow truck soybeans
were 44 cents higher at 12.80 per bushel.  Central Illinois 48 percent Soybean
meal, processor rail bid was 5.70 higher from 323.20-325.20 per ton.  Central
Illinois crude Soybean oil processor bid was 320 points higher from 56.55-57.55
cents per pound.

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

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STAT News Service

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