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Grain bids mixed, soybeans close lower
Grain bids were mixed in trading Dec. 3, as soybeans closed slightly lower, according to the National Grain Market Summary. Wheat was lower on ideas that a correction was due after a two week rally. Corn gained slightly after opening lower, demand remains very good and reports of frost damage in Argentina may have hurt corn prospects. Soybeans were lower on lower crude oil and palm oil prices. Lack of buying interest by China also added a negative tone. Wheat was mostly 5 to 19 cents lower. Corn mostly 1 to 4 cents higher. Soybeans closed mostly 1 to 4 cents lower. Grains inspected for export for week ending Nov. 30: Wheat totaled 17 million bushels, up 1 million bushels; corn 55.6 million bushels, up 2.5 million bushels; sorghum 5.9 million bushels, up 65 thousand bushel and soybeans 22.5 million bushels down 10.6 million bushels compared to a week ago. Year to date: Wheat totaled 699.5 million bushels up 176.2 million; corn 634.6 million bushels up 65.7 million; sorghum 91.9 million bushels million up 54.7 million; soybeans 305.8 million bushels million down 71.3 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City December wheat was $8.99, down 8 cents; March wheat was 48.98 1/2, down 7 1/2 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $8.69, down 8 cents; Minneapolis, $9.49, down 7 cents; Portland, $10.90 to $11.10, down 5 to up 10 cents; St. Louis, $8.355, down 19 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.76, up 1 to down 1 cent; Minneapolis, $3.53 1/2, up 2 cents; southern Iowa, $3.73 1/2 to $3.76, up 2 to down 5 1/2 cents; Omaha, $3.77 to $3.78, up 4 to 3 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $10.15, down 1 cent; Minneapolis, no bids; southern Iowa, $10.49 3/4 to $10.52 3/4, down 1 1/4 to up 1 1/4 cents; central Illinois processors, $10.48 3/4 to $10.58 3/4, up 3 3/4 to down 1 1/4 cents. Kansas City wheat prices Dec. 4, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $9.09 1/2 to $9.70 1/2, up 15 1/2 cents; 12% protein, $9.64 1/2 to $9.87 1/2, up 15 1/2 cents ; 13% protein, $9.84 1/2 to $9.96 1/2, up 15 1/2 cents ; 14% protein, $9.96 1/2 to $10.06 1/2, up 15 1/2 cents . U.S. No. 2 soft red winter wheat was $8.99 1/2 to $9.34 1/2, up 15 1/2 cents . U.S. No. 2 white corn was $4.16 to $4.21, unchanged. Date: 12/4/07
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