Wheat and corn bids opened the middle week of July higher except soybeans which were lower for the day, according to the National Grain Market Summary, July 17.

Wheat found support from the late rally in the corn pits. Weekly export inspections came in at 17.5 million bushels. Corn rallied due to very hot temperatures forecasted for early next week in the Midwest which can affect yield during pollination. Weekly export inspections came in at 32 million bushels.

Soybeans were pressured by beneficial rain over the weekend in the western corn-belt and parts of the eastern corn-belt. Weekly export inspections were reported at 2.5 million bushels. Wheat was steady to 3 cents higher except Portland 4 cents lower. Corn was mostly steady to 5 cents higher. Sorghum was 3 to 9 cents higher. Soybeans were 1 to 8 cents lower.

Grains inspected for export for week ending July 14: Wheat totaled 17.5 million bushels, up 4.1 million bushels; corn 32.0 million bushels, up 9.9 million bushels; sorghum 1.3 million bushels, down 200 thousand; and soybeans 2.5 million bushels, down 3.6 million bushels compared to a week ago.

Year to date: Wheat totaled 91.5 million bushels down 36.0 million; corn 1486.6 million bushels down 126.7 million; sorghum 130.1 million bushels down 12.0 and soybeans 1033.7 million bushels up 199.4 million. Crop marketing years begin June 1 for Wheat and September 1 for corn, sorghum, and soybeans.

In export news, CCC to Ethiopia purchased 25,000 tons of hard red winter Wheat for July 25 to Aug. 5 delivery.

In the futures close, Kansas City Sept Wheat was $3.53, up 2 1/4 cents.

Terminal Wheat bids, paid for truck delivery, included Kansas City, $3.68, up 2 cents; Minneapolis, $4.21 3/4, up 1 1/4 cents; Portland, $3.68 to $3.72, down 4 cents; St. Louis, $3.45, unchanged.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $2.35 to $2.36, up 2 cents; Minneapolis, $2.27, up 1 1/4 cents; southern Iowa, $2.33 to $2.44, down 6 to up 2 cents; Omaha, $2.13 to $2.15, up 1 cent to unchanged.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $7.17 to $7.22, down 7 to 4 cents; Minneapolis, $6.82 1/4, down 4 3/4 cents; southern Iowa, $6.93 to $7.01, down 8 to 6 cents; central Illinois processors, $7.27 1/4 to $7.35 1/4, down 1 3/4 to 2 3/4 cents.

Kansas City Wheat prices July 19, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $3.76 3/4 to $3.89 3/4, down 11 1/4 cents; 12% protein, $3.79 3/4 to $3.89 3/4, down 11 1/4 to 12 1/4 cents; 13% protein, $3.81 3/4 to $3.96 3/4, down 11 1/4 cents; 14% protein, $3.96 3/4 to $4.06 3/4, down 11 1/4 cents. U.S. No. 2 soft red winter Wheat was $3.71 3/4 to $3.91 3/4, down 11 1/4 cents. U.S. No. 2 white corn was $2.21 to $2.27, unchanged.

Date: 7/19/05