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Row crops close lower, wheat bids higherTrading on the grain floor May 27 saw profit taking and pressure from the energy markets as row crops closed lower with wheat closing higher on strength in the dry weather in Australia's wheat crop, according to the National Grain Market Summary. Corn closed slightly lower on outside market influence as crude oil was sharply lower. Weather is for warmer temperatures later this week as planting progress is expected to be 85 to 90 percent complete. Soybeans closed lower after opening higher as crude oil closed $4 a barrel lower and funds were sellers today. Soybean planting progress is expected to be 45 to 50 percent complete. Wheat closed mostly 6 to 7 cents higher. Corn closed mostly 1 to 2 cents lower. Soybeans traded 18 to 22 cents lower. In the futures close, Kansas City May wheat was $8.05, up 7 1/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $7.60, up 7 cents; Minneapolis, $10.33, up 6 cents; Portland, was unavailable; St. Louis, $5.69, up 6 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.73, up 6 to 3 cents; Minneapolis, $5.25, down 7 3/4 cents; southern Iowa, $5.31 to $5.40, down 1 3/4 to 3/4 cent; Omaha, $5.57 to $5.64, down 2 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $13.13, down 20 cents; Minneapolis, $12.70 3/4, down 20 1/4 cents; southern Iowa, $12.75 3/4 to $12.88 3/4, down 18 1/4 cents; central Illinois processors, $13.32 3/4 to $13.46 3/4, down 20 1/4 to 22 1/4 cents. Kansas City wheat prices May 27, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.55 to $9.75, up 7 1/4 cents; 12% protein, $9.72 to $10.10, up 7 1/4 cents; 13% protein, $9.95 to $10.50, up 7 1/4 cents; 14% protein, $10.35 to $10.50, up 7 1/4 cents. U.S. No. 2 soft red winter wheat was $7.40 to $7.75, up 7 1/4 cents. U.S. No. 2 white corn was $5.78 to $5.88, unchanged. 6/2/08 Date: 5/27/08 Advertisement
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