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Grain markets rallyThe grain markets rallied closing moderate to sharply higher, according to the National Grain Market Summary, Oct. 19. Wheat saw spillover support from other grains and a lower dollar. Corn and soybeans found support from the higher equities, a lower dollar, and rain in the forecast for parts of the Corn Belt. Wheat was mostly 15 to 19 cents higher. Corn was 11 to 15 cents higher. Sorghum was 25 cents higher. Soybeans were mostly 13 to 18 cents higher. Grains inspected for export for week ending Oct. 15: Wheat totaled 18.6 million bushels, down 300 thousand bushels; corn 24.6 million bushels, up 1.3 million bushels; sorghum 1.7 million, up 1.4 million bushels and soybeans 39.1 million bushels, up 13.8 million bushels compared to a week ago. Year to date: Wheat totaled 332.6 down 170.0 million; corn 238.8 million up 9.0 million; sorghum 20.1 down 8.0 million and soybeans 104.2 up 6.3 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City July wheat was $5.28 3/4, up 18 1/4 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $4.64 to $4.69, up 18 cents; Minneapolis, $5.61 1/2, up 15 cents; Portland, $4.70 to $4.72, up 5 cents; St. Louis, $3.33, up 19 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.61 to $3.63, up 14 to 13 cents; Minneapolis, $3.49 1/4, up 14 1/4 cents; southern Iowa, $3.60 1/4 to $3.67 3/4, up 11 1/4 to 14 3/4 cents; Omaha, $3.63 to $3.74, up 15 to 14 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.76 to 9.81, up 18 cents; Minneapolis, $9.79 1/4, up 16 3/4 cents; southern Iowa, $9.91 1/4 to $9.99 3/4, up18 3/4 cents; central Illinois processors, $10.08 1/4 to $10.21 1/4, up 15 3/4 to 13 3/4 cents. Kansas City wheat prices Oct. 20, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.05 3/4 to $5.53 3/4, down 5 to 3 cents; 12% protein, $5.44 3/4 to $5.64 3/4, down 5 to 3 cents; 13% protein, $5.53 3/4 to $5.79 3/4, down 3 cents; 14% protein, $5.69 3/4 to $5.84 3/4, down 3 cents. U.S. No. 2 soft red winter wheat was $4.75 3/4 to $5.25 3/4, down 3 cents. U.S. No. 2 white corn was $3.83 to $3.94, unchanged.
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