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Soybean, grain bids trade higherGrain and soybean bids were all trading higher according to the National Grain Market Summary, Sept. 17. Wheat buyers were very active as concerns of crop conditions deteriorating in Australia and lower than expected production in Europe were very supportive for wheat. Corn was higher with strength in the wheat market despite higher than expected yields with a record crop harvest and harvest pressure, corn is seeing some overhead selling pressure. Soybeans had solid gains with ideas that there could be some freeze damage over the weekend, also carryover support from wheat, corn, and the energy markets help support the bean market. Wheat was mostly 14 to 34 cents higher. Corn was 2 to 5 cents higher. Soybeans gained mostly 13 to 17 cents higher. Grains inspected for export for week ending Sept. 13: Wheat totaled 29.7 million bushels, down 2.2 million bushels; corn 30.9 million bushels, down 17.3 million bushels; sorghum 6.6 million bushels, down 1.3 million bushels and soybeans 10.9 million bushels, up 3.7 million bushels compared to a week ago. Year to date: Wheat totaled 371.1 million bushels up 126.9 million; corn 70.8 million bushels down 27.5 million; sorghum 14.5 million bushels up 10.1 million and soybeans 17.4 million bushels down 4.2 million. Crop marketing years begin June 1 for wheat and September 1 for corn, sorghum, and soybeans. In export news, there were no new export sales to report. In the futures close, Kansas City December wheat was $8.58, up 29 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $8.23, up 29 cents; Minneapolis, $7.85, up 30 cents; Portland, $8.766 to $8.88, up 14 to 23 cents; St. Louis, $8.10, up 34 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.29, up 3 cents; Minneapolis, $2.77 1/4, down 8 3/4 cents; southern Iowa, $2.81 1/4 to $2.97 1/4, up 5 1/4 to 4 1/4 cents; Omaha, $3.08 to $3.11, up 2 to 3 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.07, up 17 cents; Minneapolis, $8.65 1/2, up 17 3/4 cents; southern Iowa, $8.77 1/2 to $8.85, up 15 3/4 to 14 1/4 cents; central Illinois processors, $9.15 1/2 to $9.28 1/2, up 5 3/4 to 13 3/4 cents. Kansas City wheat prices Sept. 18, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.35 3/4 to $8.71 3/4, down 9 1/4 cents; 12% protein, $8.58 3/4 to $8.78 3/4, down 9 1/4 cents; 13% protein, $8.71 3/4 to $8.91 3/4, down 9 1/4 cents; 14% protein, $8.71 3/4 to $8.91 3/4, down 9 1/4 cents. U.S. No. 2 soft red winter wheat was $7.91 3/4 to $8.31 3/4, down 9 1/4 cents. U.S. No. 2 white corn was $3.89 to $4.08, unchanged. Date: 9/18/07
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