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Wheat, corn close lower, beans unable to hold gainsCorn and wheat closed higher with soybeans unable to hold gains closing lower even with strong outside market support, according to the National Grain Market Summary, Feb. 1. The stock market, crude oil and gold all had strong rallies with the dollar closing lower. Wheat closed unchanged to 9 cents higher. Corn traded 2 to 6 cents higher. Soybeans closed 1 to 4 cents lower. Grains inspected for export for week ending Jan. 28: Wheat totaled 17.8 million bushels, up 900 thousand bushels; corn 36.8 million bushels, up 13.4 million bushels; sorghum 2.2 million, down 1.0 million bushels and soybeans 40.0 million bushels, down 6.2 million bushels compared to a week ago. Year to date: Wheat totaled 546.9 down 179.3 million; corn 661.4 million up 11.9 million sorghum 70.3 up 4.7 million, and soybeans 932.5 up 265.1 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City March wheat was $4.87 1/2, up 1/2 cent. Terminal wheat bids, paid for truck delivery, included Kansas City, $4.28, up 9 to 6 cents; Minneapolis, $5.41 1/4, up 1/2 cents; Portland, $4.75 to $4.95, up 5 cents; St. Louis, $3.84, unchanged. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.41 to $3.46, up 5 to 6 cents; Minneapolis, $3.11, up 2 1/2 cents; southern Iowa, $3.23 to $3.27, up 2 1/2 cents; Omaha, $3.38 to $3.42, up 5 to 3 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.98, down 4 cents; Minneapolis, no bids; southern Iowa, $8.70 3/4 to $8.74 3/4, down 1 1/4 to 4 1/4 cents; central Illinois processors, $9.143/4 to $9.19 3/4, down 4 1/4 cents. Kansas City wheat prices Feb. 2, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $4.73 to $5.39, up 11 1/2 to 7 1/2 cents; 12% protein, $5.28 to $5.50, up 9 1/2 to 11 1/2 cents; 13% protein, $5.35 to $5.79, up 11 1/2 cents; 14% protein, $5.64 to $5.79, up 11 1/2 cents. U.S. No. 2 soft red winter wheat was $4.44 to $5.39, up 11 1/2 cents. U.S. No. 2 white corn was $3.71 to $3.76, unchanged.
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