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Week starts out with gainsAccording to the National Grain Market Summary, March 24, the grain trade started the week out with sharply higher gains, after the market had time to digest last week's losses. Wheat was sharply higher with weather playing a key as dryness in the southwest and wet conditions in the east and south central areas are a factor. Corn was sharply higher as fund buyers were back in the market as the thought of late planting due to wet conditions and the thought of more soybeans being planted. Soybeans were limit up as fund buyers were active in the soybean market. Wheat closed 36 to 47 cents higher. Corn traded mostly 15 to 19 cents higher. Soybeans closed mostly 50 to 52 cents higher. Grains inspected for export for week ending March 20: Wheat totaled 18.1 million bushels, up 200 thousand bushels; corn 42.3 million bushels, down 8.0 million bushels; sorghum 5.5 million bushels, down 1.1 million bushels and soybeans 26.2 million bushels, up 1.1 million bushels compared to a week ago. Year to date: Wheat totaled 1023.9 million bushels up 318.9 million; corn 1422.1 million bushels up 211.7 million; sorghum 200.2 million bushels up 113.8 million and soybeans 811.8 million bushels down 27.9 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City May wheat was $10.68 1/2, up 36 1/2 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $10.29, up 47 cents; Minneapolis, $14.19 1/4, up 47 1/4 cents; Portland, was unavailable; St. Louis, $8.19, up 42 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.03, up 17 cents; Minneapolis, $4.79 3/4, up 19 1/4 cents; southern Iowa, was unavailable; Omaha, $4.88 to $4.93, up 18 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $11.75, up 50 cents; Minneapolis, no bids; southern Iowa, was unavailable; central Illinois processors, $11.50 to $11.72. Kansas City wheat prices March 25, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $11.49 to $12.24, up 50 1/2 cents; 12% protein, $12.19 to $12.74, up 50 1/2 cents; 13% protein, $12.79 to $13.99, up 50 1/2 cents; 14% protein, $14.29 to $14.44, up 50 1/2 cents. U.S. No. 2 soft red winter wheat was $11.09 to $11.44, up 50 1/2 cents. U.S. No. 2 white corn was $4.92 to $5, unchanged. 3/31/08 Date: 3/25/08 Advertisement
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