Grain bids mixed

Grain bids were mixed ahead of the Aug. 12 U.S. Department of Agriculture report, according to the National Grain Market Summary, Aug. 11.

Wheat found support from strong weekly export inspections which came in at 30.8 million bushels. Weekly export inspections for corn were near the low end of expectations which came in at 35.8 million bushels and soybeans came in with in estimates of 10.1 million.

Wheat was mostly 21 to 29 cents higher. Corn was mostly 1 to 10 cents lower. Sorghum was 2 cents lower to 78 cents higher. Soybeans were 15 to 33 cents higher.

Grains inspected for export for week ending Aug. 7: Wheat totaled 30.8 million bushels, up 1.0 million bushels; corn 35.8 million bushels, up 3.7 million bushels; sorghum 200 thousand bushels, down 600 thousand bushels and soybeans 10.1 million bushels, up 200 thousand bushels compared to a week ago.

Year to date: Wheat totaled 226.0 million bushels up 36.2 million; corn 2210.3 million bushels up 282.1 million; sorghum 260.0 million bushels up 123.2 million and soybeans 1088.6 million bushels up 18.8 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 $8.25, up 21 1/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $7.95 to $7.98, up 11 to 14 cents; Minneapolis, $8.76 3/4, up 23 3/4 cents; Portland, $8.05 to $8.15, up 7 to 2 cents; St. Louis, $6.09, up 29 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $4.79, up 5 to 4 cents; Minneapolis, $4.42 1/2, down 10 1/4 cents; southern Iowa, $4.63 1/4 to $4.68 1/4, down 1 1/4 to 1/4 cents; Omaha, $4.67 to $4.73, down 2 to 1 cent.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.21, up 15 cents; Minneapolis, $11.45, up 33 1/2 cent; southern Iowa, $11.69 to $11.83, up 13 1/2 to 18 cents; central Illinois processors, $11.91 to $12.06, up 15 1/2 cents.

Kansas City wheat prices Aug. 12, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.10 to $8.72, up 2 cents; 12% protein, $8.64 to $8.82, up 2 to 4 cents; 13% protein, $8.74 to $8.89, up 10 to 2 cents; 14% protein, $8.80 to $8.95, up 2 cents. U.S. No. 2 soft red winter wheat was $6.52 to $7.42, up 12 to 2 cents. U.S. No. 2 white corn was $4.68 to $4.95, unchanged.

8/18/08
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Date: 8/12/08

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