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Soybeans suffer sharp lossesSoybeans again suffered sharp losses leading the rest of the grain complex lower, according to the National Grain Market Summary Oct. 15. Corn had sharp losses following soybeans lower as beans continued their decline as liquidation selling was in control on Oct. 15. Seasonal selling pressure along with better than expected yields for soybeans added to the market strain. Wheat closed with modest losses compared to beans and corn with a late round of buying support. Wheat closed 8 to 9 cents lower. Corn traded 14 to 16 cents lower. Soybeans closed 27 to 30 cents lower. Grains inspected for export for week ending Oct. 11: Wheat totaled 7.0 million bushels, down 6.2 million bushels; corn 17.2 million bushels, down 200 thousand bushels; sorghum 1.8 million bushels, down 200 thousand bushels and soybeans 57.8 million bushels, up 12.1 million bushels compared to a week ago. Year to Date: Wheat totaled 376.1 down 47.5 million; corn 117.3 down 48.0 million; sorghum 12.1 million down 1.8 million, and soybeans 180.5 up 66.0 million. Crop marketing years begin June 1 for wheat and September 1 for corn, sorghum, and soybeans. In the futures close, Kansas City July wheat was $8.81 1/4, down 9 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $8.51, down 9 cents; Minneapolis, $9.31, down 3 1/4 cents; Portland, unavailable; St. Louis, $8.29, down 8 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $7.52 to $7.55, down 16 cents; Minneapolis, $7.05 1/4, down 12 1/4 cents; southern Iowa, $7.18 1/4 to $7.24 1/4, down 15 1/2 to 16 1/2 cents; Omaha, $7.52 to $7.57, down 16 to 14 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $14.93, down 30 cents; Minneapolis, $14.73 1/2, down 16 cents; southern Iowa, $14.79 1/2 to $14.84, down 27 1/2 to 30 1/2 cents; central Illinois processors, $15.02 1/2 to $15.07 1/2, down 30 cents. Kansas City wheat prices Oct. 16, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $9.17 3/4 to $9.79 3/4, up 1 1/2 cents; 12% protein, $9.67 3/4 to $9.88 3/4, down 1 1/2 to up 1 1/2 cents; 13% protein, $9.75 3/4 to $9.90 3/4, up 1 1/2 cents; 14% protein, $9.77 3/4 to $9.92 3/4, up 1 1/2 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $8.49 to $8.56, unchanged. Date: 10/22/2012
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