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Market uncertainty leads to lower bidsIt was a nervous day on the grain floor as uncertainty in the financial and world markets led to sharply lower to limit downs in the commodity markets as long liquidation selling set in early and continued through the day, according to the National Grain Market Summary, March 17. Also declines in crude oil, palm oil, soybean meal and a sharp break in the U.S. dollar added to a bearish tone. Wheat closed 55 to 74 cents lower. Corn traded mostly 17 to 32 cents lower. Soybeans ended mostly 49 to 51 cents lower. Grains inspected for export for week ending March 13: Wheat totaled 15.7 million bushels, down 4.5 million bushels; corn 48.8 million bushels, up 1.0 million bushels; sorghum 6.0 million bushels, up 700 thousand bushels and soybeans 24.0 million bushels, down 8.4 million bushels compared to a week ago. Year to date: Wheat totaled 1003.1 million bushels up 312.7 million; corn 1376.7 million bushels up 211.0 million; sorghum 194.1 million bushels up 110.5 million and soybeans 784.0 million bushels down 35.9 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, down 60 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $11.50, down 60 cents; Minneapolis, $14.85, down 74 3/4 cents; Portland, was unavailable; St. Louis, $9.02, down 55 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.17, down 20 cents; Minneapolis, $4.85 1/4, down 20 cents; southern Iowa, $4.90 1/4 to $4.97 1/4, down 17 to 14 1/2 cents; Omaha, $4.90 to $4.93, down 32 to 34 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.16, down 50 cents; Minneapolis, no bids; southern Iowa, $12.06 3/4 to $12.16 3/4, down 49 to 51 cents; central Illinois processors, $12.45 3/4 to $12.62 3/4, down 50 cents. Kansas City wheat prices March 18, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $12.43 to $13.23, up 18 to 13 cents; 12% protein, $13.25 to $14.08, up 13 to 18 cents; 13% protein, $14.28 to $15.23, up 8 cents; 14% protein, $15.63 to $15.78, up 8 cents. U.S. No. 2 soft red winter wheat was $12.03 to $12.38, up 13 cents. U.S. No. 2 white corn was $5.13 to $5.27, down 33 to 25 cents. 3/24/08
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