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Wheat harvest pushes mixed bids
Wheat ended the day mixed. finding pressure from the on going winter Wheat harvest and weakness in the corn trade, however, an announcement overnight gave the market some support, according to the July 19 National Grain Market Summary.
Weekly export inspections came in at 19.4 million bushels. Corn was slightly lower due to good growing weather and lack of export news. Weekly export inspections were reported at 35.3 million bushels. Soybean bids were lower as domestic basis continue on the weak side. Weekly export inspections were posted at 2.3 million bushels.
Wheat was 2 cents lower to 6 cents higher. Corn was 2 cents lower. Sorghum was 5 cents lower to 1 cent higher. Soybeans were steady to 8 cents lower with export barge 10 to 20 cents lower.
Grains inspected for export for week ended July 15: Wheat totaled 19.4 million bushels down 900 thousand bushels; corn 35.3 million bushels down 3.9 million bushels; sorghum 3.0 million bushels, up 3.0 million bushels; and soybeans 2.3 million bushels, up 400 thousand bushels compared to a week ago.
Year to date: Wheat totaled 124.2 million bushels up 16.6 million; corn 1612.2 million bushels up 302.1 million; sorghum 144.3 million bushels up 14.6 million and soybeans 834.2 million bushels down 175.9 million. Crop marketing years begin June 1 for Wheat and September 1 for corn, sorghum, and soybeans.
There was nothing new to report in export news.
In the futures close, Kansas City Sept Wheat was $3.65, unchanged.
Terminal Wheat bids, paid for truck delivery, included Kansas City, $3.65-$3.70, unchanged; Minneapolis, $4.02, down 1/2 cent; Portland, $3.98 to $3.99, down 2 to 1 cent; St. Louis, $3.44, up 6 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $2.22, down 2 cents; Minneapolis, $2.26, down 2 cents; southern Iowa, $2.33 to 2.36, down 2 cents; Omaha, $2.31, down 2 cents.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $7.33, down 8 cents; Minneapolis, $6.82 1/2, unchanged; southern Iowa, $7.08 to $7.25, unchanged to down 5 cents; central Illinois processors, $7.37 1/2 to $7.57 1/2, down 5 to unchanged.
Kansas City Wheat prices June 21, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $3.93 1/4 to $4.13 1/4, down 1 3/4 cents; 12% protein, $4.03 1/4 to $4.13 1/4, down 1 3/4 cents; 13% protein, $4.03 1/4 to $4.13 1/4, down 1 3/4; 14% protein, $4.03 1/4 to $4.13 1/4, down 1 3/4. U.S. No. 2 soft red winter Wheat was $3.70 1/4 to $3.95 1/4, down 1 3/4. U.S. No. 2 white corn was $2.28 to $2.30, unchanged.
Date: 7/20/04
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