Bids all bullish

Wheat, corn and soybeans all had a bullish trend as they traded sharply higher as fund buying was very supportive, the lower dollar was positive as export demand remains strong, according to the National Grain Market Summary, Aug. 18.

The weather was also supportive as dryer than expected weather could keep yield potential in question.

Wheat closed mostly 15 to 35 cents higher. Corn traded 19 to 23 cents higher. Soybeans closed mostly 70 to 72 cents higher.

In the futures close, Kansas City September wheat was $8.90, up 26 3/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $8.60, up 27 cents; Minneapolis, $9.42 1/2, up 15 1/4 cents; Portland, $8.35 to $8.50, up 10 cents; St. Louis, $6.57, up 35 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.35, up 23 cents; Minneapolis, $5.03, up 19 1/4 cents; southern Iowa, $5.08 to $5.13, up 22 1/4 to 21 1/4 cents; Omaha, $5.33, up 23 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $13.14, up 70 cents; Minneapolis, $12.07, up 72 cents; southern Iowa, $12.47 to $12.61, up 72 to 62 cents; central Illinois processors, $12.82 to $12.94, up 70 cents.

Kansas City wheat prices Aug. 19, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.63 1/2 to $9.24 1/2, down 9 1/2 to 10 1/2 cents; 12% protein, $9.16 1/2 to $9.36 1/2, down 10 1/2 cents; 13% protein, $9.26 1/2 to $9.41 1/2, down 10 1/2 cents; 14% protein, $9.30 1/2 to $9.45 1/2, down 12 1/2 cents. U.S. No. 2 soft red winter wheat was $7.05 1/2 to $7.95 1/2, down 9 1/2 cents. U.S. No. 2 white corn was $5.76 to $5.94, unchanged.

8/25/08
None\2-C

Date: 8/19/08

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Bids all bullish

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