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Steady bids seen for grain, soybeans

Grain and soybean bids were mostly steady to slightly higher for Aug. 21, according to the National Grain Market Summary.

Soybeans saw some support from higher energy prices and strong demand. Weekly export inspections for corn were good coming in at 46.5 million bushels. Soybeans found spillover support from corn. Weekly export inspections for soybeans were good coming in at 12.4 million bushels.

Wheat was 2 cents lower to 4 cents higher. Corn was 1 cent higher. Sorghum was 3 to 4 cents higher. Soybeans were mostly steady to 1 cent higher.

Grains inspected for export for week ending Aug. 17: Wheat totaled 13.7 million bushels, down 1.2 million bushels; corn 46.5, down 800 thousand bushels; sorghum 3.0 million bushels, up 500 thousand and soybeans 12.4 million bushels, up 5.7 million bushels compared to a week ago.

Year to date: Wheat totaled 171.9 million bushels down 27.1 million; corn 1972.0 million bushels up 311.9 million; sorghum 169.5 million bushels up 24.9 million and soybeans 908.5 million bushels down 154.4 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 September Wheat was $4.53 3/4, down 1/2 cent.

Terminal Wheat bids, paid for truck delivery, included Kansas City, $4.39, unchanged; Minneapolis, $4.54 1/2, down 2 cents; Portland, $3.96 to $3.98, up 1 cent; St. Louis, $3.13, up 1 cent.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $2.03, up 1 cent; Minneapolis, $1.83, up 1 1/4 cents; southern Iowa, $1.93 to $1.96, up 1 cent; Omaha, $1.95 to $1.96, up 1 cent.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $5.25, unchanged; Minneapolis, $4.85 1/4, up 3/4 cent; southern Iowa, $5.10 to $5.14, up 1 cent to unchanged; central Illinois processors, $5.28 1/4 to $5.41 1/4, up 1 3/4 to 3/4 cent.

Kansas City Wheat prices Aug. 22, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $4.76 1/2 to $5.07 1/2, down 7 1/4 to 6 1/4 cents; 12% protein, $4.97 1/2 to $5.07 1/2, down 6 1/4 cents; 13% protein, $5.09 1/2 to $5.16 1/2, down 4 1/4 to 7 1/4 cents; 14% protein, $5.06 1/4 to $5.16 1/2, down 7 1/4 cents. U.S. No. 2 soft red winter Wheat was $3.41 1/2 to $3.61 1/2, down 7 1/4 cents. U.S. No. 2 white corn was $2.21 to $2.23, unchanged.

Date: 8/22/06


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