Most bids decline

Grain and soybean bids were moderately lower Dec. 18, as Wheat was pressured by slow exports and favorable weather for the winter Wheat area, while corn and soybean bids declined in reaction to lower grains and energy markets according to the National Grain Market Summary.

Favorable weather for South American crops also pressured soybeans. Wheat was mostly 6 to 8 cents lower. Corn was mostly 3 cents lower. Sorghum was 5 to 9 cents lower. Soybeans were 9 to 14 cents lower.

Grains inspected for export for week ending Dec. 14: Wheat totaled 11.4 million bushels, down 4.9 million bushels; corn 40.2 million bushels , down 2.9 million bushels; sorghum 1.9 million bushels, down 1.9 million bushels and soybeans 23.8 million bushels, down 12.5 million bushels compared to a week ago.

Year to date: Wheat totaled 450.6 million bushels down 111.6 million; corn 652.2 million bushels up 109.0 million; sorghum 42.8 million bushels up 2.0 million and soybeans 437.2 million bushels up 78.6 million. Crop marketing years begin June 1 for Wheat and September 1 for corn, sorghum, and soybeans.

In export news, a private exporter purchased 116,000 tons of corn for delivery in the 2006-2007 marketing year.

In the futures close, Kansas City March Wheat was $5.03, down 6 3/4 cents.

Terminal Wheat bids, paid for truck delivery, included Kansas City, $4.83, down 7 cents; Minneapolis, $5.02, down 7 cents; Portland, $4.85 to $4.91, down 4 to 2 cents; St. Louis, $4.71, down 6 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.46, down 3 cents; Minneapolis, $3.16 3/4, down 3 1/4 cents; southern Iowa, $3.36 to $3.41, down 3 to 2 cents; Omaha, $3.27 to $3.33, down 3 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $6.23 to $6.25, down 10 cents; Minneapolis, no bids available; southern Iowa, $6.23 to $6.28, down 9 to 14 cents; central Illinois processors, $6.40 to $6.51, down 9 1/2 cents.

Kansas City Wheat prices Dec. 19, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.27 to $5.50, down 1 cent; 12% protein, $5.40 to $5.55, down 1 cent; 13% protein, $5.40 to $5.45, down 1 cent; 14% protein, $5.20 to $5.35, down 1 cent. U.S. No. 2 soft red winter Wheat was $4.32 to $4.42, down 1 cent. U.S. No. 2 white corn was $3.88 to $3.94, unchanged.

Date: 12/19/06

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