0918GrainmkaretsummaryMRko.cfm Malatya Haber Grains close with sharp losses
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Grains close with sharp losses

Grains closed with sharp losses Sept. 17 as soybeans closed down the limit, according to the National Grain Market Summary.

Chart selling, profit taking, new crop harvest pressure and thoughts of better than expected yields pressured the markets to start the week. Most commodities saw pressure Sept. 17 along with rain in the forecast for Brazil added to the pressure.

Wheat closed 40 to 47 cents lower. Corn traded 25 to 46 cents lower. Soybeans closed 70 to 85 cents lower.

Grains inspected for export for week ending Sept. 13: Wheat totaled 29.4 million bushels, up 8.8 million bushels; corn 27.9 million bushels, up 17.7 million bushels; sorghum 963 thousand bushels, up 522 thousand bushels and soybeans 10.0 million bushels, down 3.0 million bushels compared to a week ago.

Year to date: Wheat totaled 308.2 down 42.1 million; corn 37.2 down 10.5 million; sorghum 1.3 million up 3.5 million, and soybeans 22.6 down 2.0 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 $9.01 1/4, down 46 3/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $8.51 to $8.54, down 47 cents; Minneapolis, $9.20 3/4, down 47 1/4 cents; Portland, $8.65 to $8.80, down 40 to 35 cents; St. Louis, $8.59, down 44 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $7.51 to $7.56, down 46 to 41 cents; Minneapolis, $6.98, down 35 cents; southern Iowa, $7.13 to $7.24, down 39 to 20 cents; Omaha, $7.39 to $7.49, down 33 to 25 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $16.74, down 80 cents; Minneapolis, $16.30, down 73 cents; southern Iowa, $16.36 to $16.41, down 70 to 72 cents; central Illinois processors, $16.69 to $16.94, down 80 to 85 cents.

Kansas City wheat prices Sept. 18, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $9.14 to $9.63, down 12 1/4 cents; 12% protein, $9.51 to $9.71, down 17 1/4 to 12 1/4 cents; 13% protein, $9.59 to $9.74, down 12 1/4 cents; 14% protein, $9.59 to $9.74, down 12 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $8.64 to $8.90, unchanged.

Date: 9-24-2012

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