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Grain prices erodeGrain prices eroded as the day went on as funds were sellers, according to the National Grain Market Summary, Dec. 29. The dollar was higher and year end selling occurred as farmers took advantage of the higher prices over the holiday seemed attractive. Wheat closed the day lower. Corn traded 4 to 8 cents lower from the Dec. 24 close. Soybean futures were 13 1/4 cents lower, but 18 to 22 cents higher with the Dec. 24 close. In the futures close, Kansas City March wheat was $6.11, up 11 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $5.66, up 11 cents; Minneapolis, $7.09 3/4, down 2 cents; Portland, $5.70 to $5.80, up 25 to 15 cents; St. Louis, $4.65. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.87 to $3.88, down 4 cents; Minneapolis, $3.43 1/2, down 4 1/2 cents; southern Iowa, $3.56 1/2 to $3.61 1/2, down 4 1/2 to 6 1/2 cents; Omaha, $3.78 to $3.83, down 8 to 3 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.34, up 18 cents; Minneapolis, $8.78 1/2, up 22 3/4 cents; southern Iowa, $8.92 1/2 to $8.96, up 22 3/4 to 22 1/4 cents; central Illinois processors, $9.38 1/2 to $9.53 1/2, up 22 3/4 cents. Kansas City wheat prices Dec. 29, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.31 to $6.76, up 11 cents; 12% protein, $6.64 to $6.91, up 11 cents; 13% protein, $6.81 to $6.99, up 11 cents; 14% protein, $7.11 to $7.26, up 11 cents. U.S. No. 2 soft red winter wheat was $4.69 to $5.69, up 11 cents. U.S. No. 2 white corn was $3.86 to $4.03, unchanged. 1/5/09 Date: 12/29/08
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