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Corn, soybean bids pressuredLimitdown trade on row crops as fund liquidation and good growing conditions pressured corn and soybeans, according to the National Grain Market Summary, Aug. 4. Wheat was lower on limited buying interest and pressure from the row crops. Global conditions for wheat are at ample supplies. Corn was limit down, now at a four month low as crop ratings are also looking to improve due to ideal growing conditions. Soybeans were limit down on good weather that is also easing fears for the late planted crop. Lower crude oil also helped pressure the bean and corn market. Wheat closed mostly 20 to 26 cents lower. Corn traded 23 to 30 cents lower. Soybeans closed mostly 63 to 70 cents. Grains inspected for export for week ending Aug. 1: Wheat totaled 21.8 million bushels, down 8.3 million bushels; corn 39.0 million bushels, up 7.9 million bushels; sorghum 1.8 million bushels, down 1.5 million bushels and soybeans 10.1 million bushels, up 3.2 million bushels compared to a week ago. Year to date: Wheat totaled 164 million up 30.0 million; corn 2138.0 million bushels up 281 million; sorghum 259.0 million bushels up 128.0 million and soybeans 1052.0 million bushels up 12.0 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans In the futures close, Kansas City September wheat was $7.96, down 26 1/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $7.76, down 26 cents; Minneapolis, $8.52, down 12 cents; Portland, $7.85 to $8.12, down 25 to 15 cents; St. Louis, $5.54, down 20 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.11 to $5.12, down 29 cents; Minneapolis, $4.63, down 30 cents; southern Iowa, $4.86 1/2 to $4.93, down 22 1/2 to 23 cents; Omaha, $4.95 to $5.01, down 26 to 29 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $13.20, down 70 cents; Minneapolis, $12.17, down 49 3/4 cents; southern Iowa, $12.46 to $12.55, down 65 to 64 3/4 cents; central Illinois processors, $12.95 to $13.05, down 70 cents. Kansas City wheat prices Aug. 5, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $7.89 1/2 to $8.45 1/2, up 10 1/2 cents; 12% protein, $8.33 1/2 to $8.51 1/2, up 10 1/2 cents; 13% protein, $8.41 1/2 to $8.64 1/2, up 10 1/2 cents; 14% protein, $8.59 1/2 to $8.74 1/2, up 10 1/2 cents. U.S. No. 2 soft red winter wheat was $6.16 1/2 to $7.21 1/2, up 10 1/2 cents. U.S. No. 2 white corn was $5.31 to $5.50, unchanged. 8/11/08 Date: 8/5/08 Advertisement
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