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Corn, wheat bids on the riseCorn and wheat markets took back their loses from last week as they closed sharply higher as both grains are positioning up ahead of the March 11 U.S. Department of Agriculture Supply and Demand Report, according to the National Grain Market Summary, March 10. Fund buying also was a positive for corn and wheat. Soybeans were slightly lower as fund selling, lower export demand, and word of good crop conditions in Argentina were all negative influences. Wheat closed 32 to 58 cents higher. Corn closed 17 to 19 cents higher. Soybeans traded mostly 1 to 2 cents lower. Grains inspected for export for week ending March 6: Wheat totaled 18.1 million bushels, down 1.1 million bushels; corn 44.8 million bushels, down 5.3 million bushels; sorghum 5.3 million bushels, up 700 thousand bushels and soybeans 29.9 million bushels, down 4.2 million bushels compared to a week ago. Year to date: Wheat totaled 985.4 million bushels up 309.0 million; corn 1324.8 million bushels up 198.6 million; sorghum 188.0 million bushels up 106.3 million and soybeans 757.1 million bushels down 42.4 million. Crop marketing years begin June 1 for wheat and September 1 for corn, sorghum, and soybeans. In the futures close, Kansas City May wheat was $12.01, up 32 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $11.51, up 32 cents; Minneapolis, $14.86 1/2, down 8 1/4 cents; Portland, was unavailable; St. Louis, $9.78, up 53 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.46, up 18 cents; Minneapolis, $5.29 3/4, up 17 1/2 cents; southern Iowa, $5.22 3/4 to $5.23 3/4, up 19 1/2 to 24 1/2 cents; Omaha, $5.29 to $5.37, unchanged. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $13.10, down 2 cents; Minneapolis, no bids; southern Iowa, $13.13 1/2 to $13.30 1/2, up 3/4 to down 1 1/4 cents; central Illinois processors, $13.41 1/2 to $13.61 1/2, down 2 1/4 to up 2 3/4 cents. Kansas City wheat prices March 11, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $13.11 to $13.71, up 60 cents; 12% protein, $13.66 to $14.61, up 60 to 70 cents; 13% protein, $14.86 to $15.81, up 60 cents; 14% protein, $16.21 to $16.36, up 60 cents. U.S. No. 2 soft red winter wheat was $12.66 to $13.01, up 60 cents. U.S. No. 2 white corn was $5.43 to $5.54, unchanged. 3/17/08 Date: 3/11/08
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