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Wheat bids volatileWheat was very volatile at the Minneapolis Exchange as it turned sharply lower, while Kansas City and the Chicago Board of Trade futures were slightly lower as weather forecast for the plains are calling for more rain later in the week, according to the National Grain Market Summary April 14. Corn was higher as there is the threat of wet weather for the end of the week. Corn also received spillover support from soybeans. Soybeans found support from soy oil, meal, crude oil, and palm oil all higher. Also a strong demand in the export trade was a positive. Wheat was mixed, with the Minneapolis Exchange down 70 cents. Corn traded 6 to 9 cents higher. Soybeans closed 40 to 45 cents higher. Grains inspected for export for week ending April 10: Wheat totaled 13.8 million bushels, down 11.2 million bushels; corn 45.4 million bushels, down 5.4 million bushels; sorghum 3.1 million bushels, down 2.9 million bushels and soybeans 14.5 million bushels, up 1.3 million bushels compared to a week ago. Year to date: Wheat totaled 1079.8 million bushels up 318.6 million; corn 1568.5 million bushels up 260.8 million; sorghum 211.3 million bushels up 118.8 million and soybeans 867.9 million bushels down 29.1 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 $9.50 3/4, down 3 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $9.06, up 2 cents; Minneapolis, $12.42, down 70 cents; Portland, $10.50, unchanged; St. Louis, $7.41, unchanged. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.70, up 8 cents; Minneapolis, $5.41 3/4, up 7 1/2 cents; southern Iowa, $5.51 3/4 to $5.55 3/4, up 6 1/2 to 3 1/2 cents; Omaha, $5.56 to $5.62, up 9 to 8 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $13.33, up 40 cents; Minneapolis, $13.10 1/2, up 40 cents; southern Iowa, $13.24 1/2 to $13.35 1/2, up 40 to 39 1/2 cents; central Illinois processors, $13.40 1/2 to $13.57 1/2, up 40 to 45 cents. Kansas City wheat prices April 15, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $10 1/4 to $10.95 1/4, down 1/2 cent; 12% protein, $10.80 1/4 to $11 1/4, down 1/2 cent; 13% protein, $11 1/4 to $11.90 1/4, down 1/2 cent; 14% protein, $11.95 1/4 to $12.10 1/4, down 1/2 cent. U.S. No. 2 soft red winter wheat was $9.15 1/4 to $9.50 1/4, down 1/2 cent. U.S. No. 2 white corn was $5.69 to $5.74, unchanged. 4/21/08 Date: 4/15/08
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