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Wheat bids pushed higher by dry weatherWheat bids moved higher on reports of dryness in Australia's wheat regions and lighter than expected rains over the weekend across the U.S. wheat-growing areas, according to the National Grain Market Summary, May 19. Corn was lower as well over the weekend, with good planting weather. Corn planting is expected to be near 75 percent complete for the May 19 progress report. Soybeans were sharply lower on favorable and warmer weather for planting, with progress expected to be over 30 percent. Wheat closed 10 to 25 cents higher. Corn traded mostly 4 to 7 cents lower. Soybeans closed mostly 38 to 45 cents lower. Grains inspected for export for week ending May 15: Wheat totaled 12.0 million bushels, down 9.8 million bushels; corn 27.3 million bushels, down 11.1 million bushels; sorghum 5.6 million bushels, up 900 thousand million bushels and soybeans 8.5 million bushels, down 6.1 million bushels compared to a week ago. Year to date: Wheat totaled 1182.6 million bushels up 324.8 million; corn 1751.4 million up 263.9 million; sorghum 236.3 million bushels up 129.1 million and soybeans 947.1 million bushels down 15.3 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 $8.37, up 12 3/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $7.92, up 13 cents; Minneapolis, $10.44, up 10 cents; Portland, unavailable; St. Louis, $6.01, up 25 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.54 to $5.57, down 4 cents; Minneapolis, $5.21 3/4, down 9 1/4 cents; southern Iowa, $5.26 3/4 to $5.28 3/4, down 1/4 to 7 3/4 cents; Omaha, $5.46 to $5.53, down 4 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.98, down 45 cents; Minneapolis, $12.53, down 45 cents; southern Iowa, $12.60 to $12.68, down 45 to 47 cents; central Illinois processors, $13.18 to $13.32, down 38 to 36 cents. Kansas City wheat prices May 20, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.80 3/4 to $9.75 3/4, down 6 1/4 cents; 12% protein, $9.75 3/4 to $10.20 3/4, down 6 1/4 cents; 13% protein, $10.10 3/4 to $10.75 3/4, down 6 1/4 cents; 14% protein, $10.60 3/4 to $10.75 3/4, down 6 1/4 cents. U.S. No. 2 soft red winter wheat was $7.70 3/4 to $8.05 3/4, down 6 1/4 cents. U.S. No. 2 white corn was $5.78 to $5.88, down 2 to 5 cents. 5/26/08 Date: 5/20/08
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