SJ_GR851 St. Joseph, MO Fri Feb 03, 2012 USDA-MO Dept of Ag Market News WEEKLY NATIONAL GRAIN MARKET REVIEW Compared to last week, corn had modest gains with wheat mixed and soybeans closing slightly lower. Corn market had modest gains this week as talk of reduced production in South America has been in the market now for several weeks. Slow producer selling and improved demand also helped corn rally. Soybeans had slight losses ending the week with little fresh news to provide support. Like corn the talk of less production from South America has provided support. Wheat was mixed on signals of over-bought conditions, but wheat also has signals of increased demand for U.S. wheat with weather issues in Europe and a lower dollar index. Weekly corn exports came in near expectations at 975,000 mt (38.4 mb). Soybeans had weekly export totals of 368,400 mt (13.5 mb). Wheat had total exports of 554,100 mt (20.4 mb) coming in near expectations. Wheat was mixed. Yellow Corn traded 6-10 cents higher. Sorghum was 6-14 cents higher. Soybeans were 1-6 cents lower. WHEAT: Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 2 1/4-13 1/4 cents lower from 7.62 3/4-8.12 3/4 per bushel. Kansas City US No 2 Soft Red Winter rail bid was 8 3/4 cents higher from 6.92 3/4-7.72 3/4 per bushel. St. Louis truck US No 2 Soft Red Winter terminal bid was 4 cents higher at 6.79 per bushel. Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, 23 3/4-48 3/4 cents higher from 9.76-10.01 per bushel. Portland US Soft White wheat rail was no comparison at 6.70-7.00 per bushel. CORN: Kansas City US No 2 rail White Corn was unchanged to 1 cent higher from 7.74-7.87 per bushel. Kansas City US No 2 truck Yellow Corn was 8-10 cents higher from 6.58-6.63 per bushel. Omaha US No 2 truck Yellow Corn was 6-7 cents higher from 6.48-6.50 per bushel. Chicago US No 2 Yellow Corn was 8 1/2 cents higher from 6.28-6.53 per bushel. Toledo US No 2 rail Yellow corn was 14 1/2-15 1/2 cents higher from 6.53-6.54 per bushel. Minneapolis US No 2 Yellow corn rail no bid per bushel. OATS AND BARLEY: US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 7 1/4-12 1/4 cents higher from 3.23-3.43 per bushel. US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was steady at 7.15 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 14 cents higher at 11.48 per cwt. Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 6-7 cents higher from 10.85-11.48 per cwt. OILSEEDS: Minneapolis Yellow truck soybeans no bid per bushel. Illinois Processors US No 1 Yellow truck soybeans were 1/4 cent higher to 5 1/4 cents lower from 12.17-12.27 per bushel. Kansas City US No 2 Yellow truck soybeans were 6 cents lower at 12.27 per bushel. Central Illinois 48 percent Soybean meal, processor rail bid was .20 cents lower to 2.20 cents higher from 316.40- 329.40 per ton. Central Illinois Crude Soybean oil processor bid was 75 points lower from 50.19-51.19 cents per pound. SOURCE: USDA-MO Dept of Ag Market News Service, St Joseph, MO Greg Harrison, Market Reporter (816)238-0678 www.ams.usda.gov/mnreports/SJ_GR851.txt For more Grain Market News: www.ams.usda.gov/lsg/mncs/ls_grain.htm 0815 glh .