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Grain, soybean bids rallyGrain and soybean bids rallied Nov. 24 in reaction to the lower dollar, higher crude oil, and sharp gains posted in the stock market, according to the National Grain Market Summary. Wheat was mostly 35 to 45 cents higher. Corn was mostly 14 to 19 cents higher. Sorghum was 28 to 29 cents higher. Soybeans were mostly 42 to 47 cents higher. Grains inspected for export for week ending Nov. 20: Wheat totaled 22.3 million bushels, up 7.0 million bushels; corn 28.7 million bushels, down 1.7 million bushels; sorghum 2.0 million bushels, down 400,000 bushels and soybeans 36.3 million bushels, down 4.4 million bushels compared to a week ago. Year to date: Wheat totaled 589.5 million bushels down 97.8 million; corn 362.8 million bushels down 219.0 million; sorghum 39.0 down 47.0 million and soybeans 309.4 million bushels up 24.5 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City December wheat was $5.68 3/4, up 35 1/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $5.34, up 40 cents; Minneapolis, $6.65 1/2, up 28 1/2 cents; Portland, $5.30 to $5.40, up 20 to 10 cents; St. Louis, $4.39, up 39 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.50, up 16 cents; Minneapolis, $3.09 1/2, up 14 cents; southern Iowa, $3.12 1/2 to $3.19 1/2, up 16 to 17 cents; Omaha, $3.51 to $3.66, up 16 to 17 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.54, up 44 cents; Minneapolis, $8.29, up 55 cents; southern Iowa, $8.64 to $8.74, up 40 to 47 cents; central Illinois processors, $8.74 to $8.84, up 44 cents. Kansas City wheat prices Nov. 24, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.83 3/4 to $6.33 3/4, up 35 1/4 cents; 12% protein, $6.21 3/4 to $6.43 3/4, up 35 1/4 cents; 13% protein, $6.33 3/4 to $6.62 3/4, up 35 1/4 cents; 14% protein, $6.49 3/4 to $6.64 3/4, up 35 1/4 cents. U.S. No. 2 soft red winter wheat was $4.33 3/4 to $5.33 3/4, up 35 1/4 cents. U.S. No. 2 white corn was $3.66 to $3.82, unchanged. 12/1/08 Date: 11/24/08
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