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Most grain bids end day lower
Grain bids were lower except soybeans which were higher Aug. 27, according to the National Grain Market Summary. Wheat was pressured by other grains. Weekly export inspections were reported at 34.9 million bushels as compared to trade estimates 32 to 38 million. Corn was pressured by better than expected yields in the southern corn-belt harvest. Weekly export inspections for corn came in at 33.5 million bushels as compared with 37 to 43 million. Soybeans rallied with weekly export inspections coming in at 11.8 million bushels as compared to 7 to 11 million. Wheat was mostly 2 to 9 cents lower. Corn was 6 to 16 cents lower. Sorghum was 10 cents lower. Soybeans were 7 to 12 cents higher. In export news, a private exporter purchased 120,000 tons of corn for delivery in the 2007-2008 marketing year. In the futures close, Kansas City May wheat was $6.81, down 1 3/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $6.71, down 12 cents; Minneapolis, $6.43 3/4, down 7 cents; Portland, $7.18 to $7.20, up 3 to down 2 cents; St. Louis, $6.27, down 9 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.29, down 6 cents; Minneapolis, $2.81 3/4, down 13 3/4 cents; southern Iowa, $2.78 3/4 to $2.94 1/4, down 16 1/4 to 11 1/4 cents; Omaha, $3.21 to $3.26, down 6 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.18, up 10 cents; Minneapolis, $7.70 3/4, up 12 3/4 cents; southern Iowa, $7.75 3/4 to $7.88 3/4, up 8 3/4 to 7 3/4 cents; central Illinois processors, $8.17 3/4 to $8.37 3/4, up 7 3/4 cents. Kansas City wheat prices Aug. 28, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.98 1/2 to $7.28 1/2, down 2 1/2 cents; 12% protein, $7.10 1/2 to $7.31 1/2, down 1 1/2 to 1/2 cent; 13% protein, $7.15 1/2 to $7.37 1/2, up 3 1/2 cents; 14% protein, $7.17 1/2 to $7.37 1/2, up 1/2 cent. U.S. No. 2 soft red winter wheat was $6.30 1/2 to $6.80 1/2, down 1/2 cent. U.S. No. 2 white corn was $3.91 to $3.95, unchanged. Date: 8/28/07
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