Wheat bids lower

Wheat was lower on a stronger dollar and slow exports, according to the National Grain Market Summary, Sept. 8.

Corn was slightly higher as cool wet weather has looks of pushing harvest back, but the market showed few signs of a rally after last week's losses. Soybeans were higher with the cool wet weather not likely to take the crop backwards, but crop ratings are expected to be down on the crop report.

Wheat closed mostly 8 to 13 cents lower. Corn traded unchanged to 2 cents higher. Soybeans closed mostly 15 to 24 cents higher.

In the futures close, Kansas City December wheat was $7.84 3/4, down 10 1/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $7.35, down 10 cents; Minneapolis, $7.92, down 13 1/4 cents; Portland, $7.45 to $7.70, down 5 to 20 cents; St. Louis, $5.14, down 8 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.19 to $5.21, unchanged; Minneapolis, $4.87, up 8 1/2 cents; southern Iowa, $4.94 to $5.02 1/2, up 2 1/2 to 2 cents; Omaha, $5.20 to $5.24, unchanged to up 2 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.17, up 15 cents; Minneapolis, $11.36, up 34 cents; southern Iowa, $11.32 to $11.51, up 16 to 24 cents; central Illinois processors, $11.97 to $12.12, up 15 cents.

Kansas City wheat prices Sept. 9, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $7.32 to $7.84, down 12 3/4 cents; 12% protein, $7.72 to $7.91, down 12 3/4 cents; 13% protein, $7.79 to $8, down 12 3/4 cents; 14% protein, $7.89 to $8.04, down 12 3/4 cents. U.S. No. 2 soft red winter wheat was $5.74 to $6.64, down 12 3/4 cents. U.S. No. 2 white corn was $5.62 to $5.74, unchanged.

9/15/08
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Date: 9/9/08

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