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Grains trading higherGrain trade was higher June 2 on all row-crops and wheat bids, according to the National Grain Market Summary. Wheat was sharply higher with corn and beans as there are some concerns of wet conditions in Kansas and dryness in Australia. Corn was sharply higher as the first crop ratings are expected to show lower ratings and thoughts that are many areas that need to be replanted due to heavy rains over the weekend. Soybeans closed slightly higher as there was late strength in crude oil and no resolve in the Argentina farmer's strike. Wheat closed mostly 9 to 21 cents higher. Corn traded 14 to 18 cents higher. Soybeans closed 2 to 8 cents higher. Grains inspected for export for week ending May 29: Wheat totaled 21.5 million bushels, up 6.0 million bushels; corn 37.4 million bushels, down 1.3 million bushels; sorghum 2.4 million bushels, up 900 thousand million bushels and soybeans 9.9 million bushels, down 3.0 million bushels compared to a week ago. Year to date: Wheat totaled 1220.3 up 331.5 million; corn 1830.3 million up 260.2 million; sorghum 240.6 up 128.7 million and soybeans 971.7 down 5.1 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City July wheat was $8.21, up 19 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $7.76, up 19 cents; Minneapolis, $10.56, up 13 cents; Portland was unavailable; St. Louis, $5.48, down 14 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.91 , up 17 cents; Minneapolis, $5.57 3/4, up 27 1/2 cents; southern Iowa, $5.63 3/4 to $5.68 3/4, up 16 1/2 to 14 cents; Omaha, $5.79 to $5.85, up 18 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $13.31, up 2 cents; Minneapolis, $12.93 1/2, up 8 cents; southern Iowa, $13.10 1/2 to $13.19 1/2, up 4 to 7 1/2 cents; central Illinois processors, $13.53 1/2 to $13.68 1/2, up 4 to 5 cents. Kansas City wheat prices June 3, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.28 to $9.43, down 33 cents; 12% protein, $9.43 to $9.83, down 30 to 33 cents; 13% protein, $9.68 to $9.88, down 33 cents; 14% protein, $9.73 to $9.88, down 33 cents. U.S. No. 2 soft red winter wheat was $7.23 to $7.58, down 33 cents. U.S. No. 2 white corn was $6.04 to $6.11, up 34 cents. 6/9/08 Date: 6/4/08 Advertisement
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