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Wheat, soybeans sharply higherWheat and soybeans closed sharply higher as corn was a distant follower on heavy selling by farmers, according to the National Grain Market Summary, March 16. Funds were buyers as a higher stock market, lower dollar, and a rally in crude oil all supported grains. Weather in the southwest remains dry for wheat as rains missed the southwest last week. Wheat closed mostly 22 to 27 cents higher. Corn traded unchanged to 3 cents higher. Soybeans closed 32 to 39 cents higher. Grains inspected for export for week ending March 12: Wheat totaled 12.6 million bushels, down 2.0 million bushels; corn 29.0 million bushels, down 14.9 million bushels; sorghum 1.0 million bushels, down 1.8 million bushels and soybeans 22.4 million bushels, down 8.5 million bushels compared to a week ago. Year to date: Wheat totaled 804.6 million bushels down 201.3 million; corn 850.9 million bushels down 529.7 million; sorghum 78.7 million bushels down 116.0 million and soybeans 876.4 million bushels up 90.0 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City May wheat was $5.97 1/4, up 27 1/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $5.62 to $5.67, up 22 to 27 cents; Minneapolis, $6.93, up 23 3/4 cents; Portland, $5.49 to $5.60, up 9 to 11 cents; St. Louis, $4.65, up 25 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.82 to $3.86, down 1 to up 3 cents; Minneapolis, $3.66 1/2, up 3 cents; southern Iowa, $3.74 1/2 to $3.79, unchanged to up 1 cent; Omaha, $3.79 to $3.86, up 3 to 1 cent. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.31, up 39 cents; Minneapolis, $8.91, up 33 1/2 cents; southern Iowa, $9.15 to $9.22, up 32 1/2 to 34 cents; central Illinois processors, $9.21 to $9.33, up 34 1/2 to 36 1/2 cents. Kansas City wheat prices March 17, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.22 1/4 to $6.81 1/4, up 8 to 6 cents; 12% protein, $6.68 1/4 to $6.85 1/4, up 6 to 8 cents; 13% protein, $6.75 1/4 to $7 1/4, up 8 cents; 14% protein, $6.90 1/4 to $7.05 1/4, up 8 cents. U.S. No. 2 soft red winter wheat was $4.87 1/4 to $5.62 1/4, up 8 cents. U.S. No. 2 white corn was $4.18 to $4.28, unchanged.
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