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Soybeans lower, grain bids mixed
Grain bids were mixed on trading as soybeans closed lower Nov. 19, according to the National Grain Market Summary. Wheat was higher on strong export sales and good demand, talk of frost in Argentina will have a small toll on wheat production is also supportive. Corn was lower on the day as it seems to be a follower of crude oil which closed lower as did the gold market. Soybeans were lower on outside market influences with the U.S. Stock Market lower, a lower crude oil and precious metals market also was negative. Wheat was mostly 6 to 7 cents higher. Corn traded 2 to 4 cents lower. Soybeans closed 6 to 8 cents lower. Grains inspected for export for week ending Nov. 15: Wheat totaled 23.9 million bushels, up 500 thousand bushels; corn 52.3 million bushels, down 4.2 million bushels; sorghum 8.8 million bushels, up 3.3 million bushels and soybeans 23.6 million bushels, down 3.1 million bushels compared to a week ago. Year to date: Wheat totaled 664.8 million bushels up 276.0 million; corn 517.8 million bushels up 34.1 million; sorghum 80.1 million bushels up 48.8 million and soybeans 246.2 million bushels down 71.8 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City May wheat was $7.81, up 6 1/2 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $7.41, up 6 cents; Minneapolis, $8.42, up 7 3/4 cents; Portland, $9.90 to $10.05, up 20 to 25 cents; St. Louis, $7.41, up 6 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.63 to $3.65, down 4 to 2 cents; Minneapolis, $3.48 1/2, down 2 cents; southern Iowa, was unavailable; Omaha, $3.61 to $3.64, down 2 cents to unchanged. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.96, down 7 cents; Minneapolis, $10.05 1/2, down 8 cents; southern Iowa, was unavailable; central Illinois processors, $10.35 1/2 to $10.45 1/2, down 7 1/4 cents. Kansas City wheat prices Nov. 19, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.01 to $8.55, up 6 1/2 cents; 12% protein, $8.47 to $8.70, up 6 1/2 to 8 1/2 cents; 13% protein, $8.67 to $8.79, up 6 1/2 cents; 14% protein, $8.74 to $8.84, up 6 1/2 cents. U.S. No. 2 soft red winter wheat was $7.61 to $7.96, up 6 1/2 cents. U.S. No. 2 white corn was $4.06 to $4.12, unchanged. Date: 11/19/07
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