USDA National Grain Review

ST. JOSEPH - Mar 5/10 - SNS -- The USDA issued its latest weekly national grain market review, covering the period through Mar 5.

WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain and soybean bids traded mixed.  This week was no
exception as once again the grain markets were in a rollercoaster ride in
reaction to the volatile outside markets.  Early in the week, the US Dollar
index was higher and crude oil was lower pressuring the grain markets.  However,
outside markets reversed giving the grains back some of their losses.  Light
farmer selling was noted which contributed to the gains in corn.  Good weather
and production forecast for Brazil and Argentina added additional pressure to
soybeans.  The weather across the mid-section of the U.S. warmed up looking more
like spring with most of the snow cover expected to be gone by this weekend as
temperatures reaching into the 40’s and 50’s in the Midwest.  Temperatures in
the southern plains are forecasted in the mid to upper 60’s.  Rain is the
picture for the weekend and next week in most of the corn-belt.  Weekly export
sales for wheat were weak coming in at 101,600 tonnes for current marketing year
and 2,500 tonnes for next year.  Weekly export sales for corn were above
expectations coming in at 761,400 tonnes for current year and 72,000 for next
year and soybeans were in line with estimates at 182,400 tonnes for current year
and 188,000 for next year.
   Wheat was 15 cents lower to 16 cents higher.  Corn was mostly 6-10 cents
higher.  Sorghum was steady to 2 cents higher.  Soybeans were 7-10 cents lower.

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2
1/4 cents higher from 4.81 3/4-5.46 3/4 per bushel.  Kansas City US No 2 Soft
Red Winter rail bid was 1 1/4 cents higher from 4.47 3/4-5.57 3/4 per bushel.
St. Louis truck US No 2 Soft Red Winter terminal bid was 8 cents lower at 4.35
per bushel.  Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5
percent protein rail, was 1 3/4 to 16 3/4 cents higher from 6.99 3/4-7.19 3/4
per bushel.  Portland US Soft White wheat rail was 5 to 15 cents lower from
4.55-4.60 per bushel.

   CORN:  Kansas City US No 2 rail White Corn was 7 to 10 cents higher from
4.02-4.09 per bushel.  Kansas City US No 2 truck Yellow Corn was 7 to 6 cents
higher from 3.67-3.71 per bushel.  Omaha US No 2 truck Yellow Corn was 1 to 3
cents lower from 3.60-3.62 per bushel.  Chicago US No 2 Yellow Corn was 3 3/4 to
10 3/4 cents higher from 3.48-3.76 per bushel.  Toledo US No 2 rail Yellow corn
was 3/4 cents higher from 3.48-3.53 per bushel.  Minneapolis US No 2 Yellow Corn
rail was 1/4 cents lower at 3.26 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20
day was 6 3/4 cents higher at 2.26 1/2 per bushel.  US No 3 or better rail
malting Barley, 70 percent or better plump out of Minneapolis no quote 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 1 to 2 cents higher from
5.80-5.86 per cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid
to the farmer, fob elevator) was steady to 1 cent higher from 5.79-6.04 per cwt.

OILSEEDS:  Minneapolis Yellow truck soybeans, no bid.  Illinois Processors US No
1 Yellow truck soybeans were 7 1/2 to 10 1/2 cents lower from 9.32-9.47 per
bushel.  Kansas City US No 2 Yellow truck soybeans were 10 cents lower at 9.37
per bushel.  Central Illinois 48 percent Soybean meal, processor rail bid was
18.20-19.20 lower from 265.90-275.90 per ton.  Central Illinois crude Soybean
oil processor bid was 110 points higher from 35.63-37.13 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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