Grain, soybean bids higher

Grain and soybean bids were higher due to the reversal in the stock market, crude oil, and U.S. dollar, according to the National Grain Market Summary, Oct. 13.

Harvest was in full swing over the weekend as weather was dry. However, harvest is expected to slow this week as rain is moving into parts of the Corn Belt.

Wheat was mostly 20 to 30 cents higher. Corn was mostly 3 to 8 cents higher. Sorghum was 5 to 6 cents higher. Soybeans were mostly 15 to 23 cents higher.

In the futures close, Kansas City December wheat was $6.27 1/4, up 22 1/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $5.75 to $5.77, up 20 to 22 cents; Minneapolis, $6.83, up 23 3/4 cents; Portland, $5.40, up 5 cents; St. Louis, $3.93, up 29 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.93 to $3.96, down 3 cents to unchanged; Minneapolis, $3.51 1/2, up 8 1/4 cents; southern Iowa, $3.61 1/2 to $3.70, up 3 1/4 to 6 1/4 cents; Omaha, $4 to $4.02, up 19 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.98, up 18 cents; Minneapolis, $8.66, up 20; southern Iowa, $8.74 to $8.83, up 15 cents; central Illinois processors, $8.98 to $9.08, up 23 to 18 cents.

Kansas City wheat prices Oct. 14, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.78 to $6.58, down 14 1/4 cents; 12% protein, $6.53 to $6.78, down 14 1/4 cents; 13% protein, $6.68 to $6.85, down 14 1/4 cents; 14% protein, $6.70 to $6.85, down 14 1/4 cents. U.S. No. 2 soft red winter wheat was $4.23 to $5.23, down 14 1/4 cents. U.S. No. 2 white corn was $4.23 to $4.53, unchanged.

10/20/08
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Date: 10/14/08

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