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Grain bids close lower
Grain bids were lower with soybeans higher on today's trading, according to the National Grain Market Summary, July 9. Wheat was lower as weakness in corn and improved harvest weather help pressure the wheat market. Weekly export inspections came in at 9.86 million bushels, below the expectation of 18 to 21 million. corn was lower on the outlook for rain and cooler temperatures, it will be important to see if rain materializes as expected. Weekly export inspections came in at 2.36 million bushels, below the expectations of 35 to 38 million. soybeans were higher on thoughts of less rain in the west and with the possibility of hot dry weather ahead sparked the bean market. Weekly export inspections came in at 4.69 million bushels, below the expectations of 8 to 10 million. Wheat was mostly 4 to 12 cents lower. corn traded mostly 1 to 4 cents lower. soybeans were 4 to 7 cents higher. In export news, there were no new confirmed export sales to report. In the futures close, Kansas City September wheat was $5.90 3/4, down 11 3/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $5.91, down 12 cents; Minneapolis, $6.10 to $6.40, down 9 1/4 to up 20 3/4 cents; Portland, $6.16 to $6.30, down 4 to 5 cents; St. Louis, $5.50, down 9 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.27 to $3.29, down 3 cents; Minneapolis, $3.03 1/4, down 2 1/4 cents; southern Iowa, $3.23 1/4 to $3.28 3/4, down 1 1/4 to 2 1/4 cents; Omaha, $3.24 to $3.25, down 4 to 3 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.31, up 7 cents; Minneapolis, $7.86 1/2, up 7 1/4 cents; southern Iowa, $7.99 1/2 to $8.02 1/2, up 5 1/4 to 3/4 cents; central Illinois processors, $8.18 1/2 to $8.35 1/2, up 4 1/4 to 6 1/4 cents. Kansas City wheat prices July 10, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.95 to $6.45, down 3/4 to 5 3/4 cents; 12% protein, $6.28 to $6.65, down 5 3/4 to 3 3/4 cents; 13% protein, $6.41 to $6.70, down 2 3/4 to 3/4 cents; 14% protein, $6.50 to $6.75, down 3/4 cent. U.S. No. 2 soft red winter wheat was $5.90 to $6.33, down 3/4 to 2 3/4 cents. U.S. No. 2 white corn was $4.38 to $4.48, unchanged. Date: 7/10/07
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