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Grain bids end day mixed
Grain bids were mixed as soybeans were lower, according to the National Grain Market Summary, Oct. 22. Wheat ended up moderately higher after opening lower. Fund buying and renewed interest after the Oct. 19 rally were positive factors. Also news that Russia is considering a higher export tax could be a boost for world prices. Corn was lower with a strong dollar and a sharp break in the energy market pressured corn. It appears that harvest will advance in the Northern and Western Corn Belt after fears of a delayed harvest because of rain. Soybeans were lower on declining energy prices, also harvest looks to progress well this week and planting in South America has improved. Wheat was 15 to 19 cents higher. Corn traded mostly 5 to 6 cents lower. Soybeans ended mostly 2 to 7 cents lower. Grains inspected for export for week ending Oct. 18: Wheat totaled 26.7 million bushels, down 8.1 million bushels; corn 39.3 million bushels, down 4.6 million bushels; sorghum 4.6 million bushels, down 5.2 million bushels and soybeans 27.2 million bushels, down 10.5 million bushels compared to a week ago. Year to date: Wheat totaled 553.7 million bushels up 215.1 million; corn 297.9 million bushels down 4.8 million; sorghum 52.1 million bushels up 30.7 million and soybeans 136.3 million bushels down 26.1 million. Crop marketing years begin June 1 for wheat and September 1 for corn, sorghum, and soybeans. In the futures close, Kansas City May wheat was $8.88, up 19 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $8.48, up 19 cents; Minneapolis, $8.75, up 15 3/4 cents; Portland, unavailable; St. Louis, $8.31, up 15 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.45, down 5 cents; Minneapolis, $3.34 1/2, down 4 3/4 cents; southern Iowa, $3.43 1/2 to $3.48, down 6 3/4 cents; Omaha, $3.30 to $3.35, down 5 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.15, down 6 cents; Minneapolis, $9.17 1/2, down 1 3/4 cents; southern Iowa, $9.22 1/2 to $9.28 1/2, down 1 3/4 to 3 1/4 cents; central Illinois processors, $9.45 1/2 to $9.56 1/2, down 7 3/4 to 1 3/4 cents. Kansas City wheat prices Oct. 23, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.71 3/4 to $9.27 3/4, down 21 1/4 to 17 1/4 cents; 12% protein, $9.14 3/4 to $9.37 3/4, down 10 1/4 to 20 1/4 cents; 13% protein, $9.24 3/4 to $9.47 3/4, down 18 1/4 to 15 1/4 cents; 14% protein, $9.37 3/4 to $9.52 3/4, down 5 1/4 to 10 1/4 cents. U.S. No. 2 soft red winter wheat was $8.24 3/4 to $8.59 3/4, down 23 1/4 to 28 1/4 cents. U.S. No. 2 white corn was $3.86 to $3.90, unchanged. Date: 10/23/07
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