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Most bids end day lower July 2
Grain bids were lower except soybeans which ended higher July 2, according to the National Grain Market Summary. Wheat was mostly 10 to 19 cents lower. corn 7 cents lower to 10 cents higher. sorghum was 18 to 37 cents lower. soybeans were mostly 14 to 20 cents higher. corn was mixed as the market found pressure from last week's bearish U.S. Department of Agriculture report and ideas that the weekly update will show improvement on crop conditions. However, good overnight exports and the higher soybeans lend some support in the corn pits. soybeans continue to rally due to the bullish USDA report. Over the weekend eastern Kansas and Oklahoma received flooding rain delaying harvest. Grains inspected for export for week ending June 28: wheat totaled 22.2 million bushels, up 6.2 million bushels; corn 34.2 million bushels, up 3.5 million bushels; sorghum 1.6 million bushels, up 400 thousand bushels and soybeans 7.2 million bushels, down 9.4 million bushels compared to a week ago. Year to date: wheat totaled 64.275 million bushels down 29 thousand; corn 1709.7 million bushels up 61.1 million; sorghum 118.0 million bushels down 34.1 million and soybeans 1019.0 million bushels up 184.7 million. Crop marketing years begin June 1 for wheat and September 1 for corn, sorghum, and soybeans. In export news there were now new confirmed export sales to report. In the futures close, Kansas City July wheat was $5.82 down 14 1/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $5.85, down 12 cents; Minneapolis, $6.05, down 19 1/4 cents; Portland, $6.02 to $6.10, down 10 to 16 cents; St. Louis, $5.25, down 9 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.28, down 2 to unchanged; Minneapolis, $2.97 3/4, down 7 1/4 cents; southern Iowa, $3.17 3/4 to $3.21 3/4, up 7 3/4 to 9 3/4 cents; Omaha, $3.26, unchanged. Terminal soybean bids, U.S. No. 1 yellow, Kansas City, $8.22, up 15 cents; Minneapolis, $7.86, up 16 1/4 cents; southern Iowa, $8.04 to $8.10, up 14 1/4 to 16 1/4 cents; central Illinois processors, $8.16 to $8.31, up 15 cents. Kansas City wheat prices July 2, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.94 to $6.59, down 10.05 cents; 12% protein, $6.35 to $6.64, down 10.5; 13% protein, $6.39 to $6.64, down 10.5 cents; 14% protein, $6.44 to $6.69, down 10.5 cents. U.S. No. 2 soft red winter wheat, $5.89 to $6.29, down 5.5 to 10.5 cents. U.S. No. 2 white corn was $4.57 to $4.68, unchanged. Date: 7/3/07
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