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Corn, soybeans see declinesGrain and soybean bids were lower for the exception of wheat which was slightly higher, according to the National Grain Market Summary, Sept. 15. Corn and soybeans saw declines in reaction to the sharply lower financial markets. The eastern Corn Belt received heavy rain from the remnants of Hurricane Ike causing flooding and a cool front moved across the Midwest into the weekend dropping temperatures into the 40s. Wheat was mostly 4 to 22 cents higher. Corn was mostly 1 to 8 cents lower. Sorghum was 2 cents lower. Soybeans were mostly 23 to 27 cents lower. Grains inspected for export for week ending Sept. 11: Wheat totaled 19.0 million bushels, down 5.4 million bushels; corn 27.5 million bushels, up 5.3 million bushels; sorghum 2.5 million bushels, down 2.2 million bushels and soybeans 7.3 million bushels, up 4.5 million bushels compared to a week ago. Year to date: Wheat totaled 368.7 million bushels down 6.2 million; corn 40.1 million bushels down 35.4 million; sorghum 4.5 million bushels down 10.3 million and soybeans 8.3 million bushels down 11.2 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City December wheat was $7.63 1/2, up 4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $7.14, up 4 cents; Minneapolis, $7.79 1/4, up 6 1/2 cents; Portland, $6.85 to $7, unchanged to down 3 cents; St. Louis, $5.27, up 22 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $5.42, down 1 cent; Minneapolis, $4.92, down 18 1/4 cents; southern Iowa, $5.05 to $5.23, down 8 1/4 to up 2 3/4 cents; Omaha, $5.40 to $5.44, up 2 to 3 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.19, down 23 cents; Minneapolis, $10.86, down 62 cents; southern Iowa, $11.21 to $11.29, down 27 to 23 cents; central Illinois processors, $11.84 to $12.19, down 23 cents. Kansas City wheat prices Sept. 16, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.94 1/2 to $7.41 1/2, down 29 cents; 12% protein, $7.29 1/2 to $7.54 1/2, down 29 cents; 13% protein, $7.42 1/2 to $7.61 1/2, down 27 cents; 14% protein, $7.53 1/2 to $7.68 1/2, down 29 cents. U.S. No. 2 soft red winter wheat was $5.36 1/2 to $6.26 1/2, down 29 cents. U.S. No. 2 white corn was $5.66 to $5.98, unchanged. 9/22/08 Date: 9/16/08 Advertisement
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