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Wall Street sell-off equals commodity market sell-offThe $700 billion financial rescue bill was voted down in the House, triggering a sell-off on Wall Street, which also included a sell-off in the commodity markets as corn and soybeans were limit-down and wheat sharply lower as well, according to the National Grain Market Summary, Sept. 29. Sharply lower crude oil market was also a negative factor. Wheat closed 38 to 51 cents lower. Corn traded 30 to 40 cents lower. Soybeans closed 70 to 85 cents lower. In the futures close, Kansas City December wheat was $7.05, down 40 3/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $6.55, down 41 cents; Minneapolis, $7.51 3/4, down 38 cents; Portland, was unavailable; St. Louis, $4.68, down 53 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $4.95, down 30 cents; Minneapolis, $4.40, down 30 cents; southern Iowa, $4.53 to $4.58, down 30 to 31 cents; Omaha, $4.84 to $4.88, down 40 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $10.84, down 75 cents; Minneapolis, $10.05, down 70 cents; southern Iowa, $10.34 to $10.41, down 85 to 78 cents; central Illinois processors, $10.39 to $10.64, down 70 cents. Kansas City wheat prices Sept. 30, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.77 to $7.34, up 7 to 13 cents; 12% protein, $7.24 to $7.47, up 9 to 15 cents; 13% protein, $7.37 to $7.56, up 14 to 15 cents; 14% protein, $7.42 to $7.57, up 16 cents. U.S. No. 2 soft red winter wheat was $5.12 to $6.12, up 5 to 15 cents. U.S. No. 2 white corn was $5.33 to $5.42, unchanged. 10/6/08 Date: 9/30/08
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