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Wet weather influences grain bidsWet weather concerns are positive for corn and negative for soybeans on the grain floor, according to the National Grain Market Summary, April 28. Wheat was higher from strength in corn and notable fund buying. Corn was sharply higher with planting and production concerns tied to the wet weather conditions which is very supportive for corn. Soybeans were sharply lower as soy oil and meal were also sharply lower. The wet weather is also a negative for bean prices. Wheat closed 15 to 25 cents higher. Corn traded mostly 20 to 25 cents higher. Soybeans traded 39 to 42 cents lower. Grains inspected for export for week ending April 24: Wheat totaled 18.9 million bushels, down 4.9 million bushels; corn 34.9 million bushels, down 5.9 million bushels; sorghum 3.7 million bushels, down 3.5 million bushels; and soybeans 14.2 million bushels, down 6.9 million bushels compared to a week ago. Year to date: Wheat totaled 1125.2 million bushels up 332.5 million; corn 1648.7 million bushels up 260.0 million; sorghum 222.9 million bushels up 124.6 million and soybeans 907.2 million bushels down 22.3 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 $8.70, up 15 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $8.25, up 15 cents; Minneapolis, $10.93, up 23 cents; Portland was unavailable; St. Louis, $6.76, up 25 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.75 to $5.78, up 23 cents; Minneapolis, $5.49 1/2, up 22 3/4 cents; southern Iowa, $5.47 to $5.59, up 21 3/4 to 25 3/4 cents; Omaha, $5.64 to $5.76, up 18 to 25 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.63, down 39 cents; Minneapolis, $12.35 1/2, down 39 1/2 cents; southern Iowa, $12.37 1/2 to $12.52, down 40 1/4 to 37 3/4 cents; central Illinois processors, $12.63 1/2 to $12.83 1/2, down 42 1/4 cents. Kansas City wheat prices April 29, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.98 to $10.23, down 22 to 12 cents; 12% protein, $10.13 to $10.33, down 12 to 17 cents; 13% protein, $10.18 to $10.88, down 17 to 22 cents; 14% protein, $10.93 to $11.08, down 22 cents. U.S. No. 2 soft red winter wheat was $8.13 to $8.48, down 22 cents. U.S. No. 2 white corn was $5.84 to $5.96, unchanged. 5/5/08 Date: 4/29/08
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