0205grainmktsummaryMRko.cfm Soybeans have double-digit gains
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Soybeans have double-digit gains

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Soybeans had solid double-digit gains while corn and wheat closed with slight to modest losses, according to the National Grain Market Summary, Feb. 4.

Outside markets were negative as the stock market closed lower and with sharp losses in crude oil and a higher dollar index helped to pressure corn and wheat. Soybeans found support depending on South American weather forecast as northern areas are having excess moisture and southern areas dry conditions.

Wheat closed mostly 5 cents lower. Corn traded 1 to 2 cents lower. Soybeans closed mostly 14 to 17 cents higher.

Grains inspected for export for week ending Jan. 31, 2013: Wheat totaled 15.2 million bushels, down 7.1 million bushels; corn 5.3 million bushels, down 16.1 million bushels; sorghum 3.1 million bushels, up 1.2 million bushels and soybeans 53.9 million bushels, up 13.0 million bushels compared to a week ago.

Year to date: Wheat totaled 599.8 down 74.9 million; corn 311.2 down 400.8 million; sorghum 39.1 million up 6.3 million, and soybeans 1004.6 up 246.3 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 $8.17, down 5 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $7.77 to $7.82, down 5 cents; Minneapolis, $8.67, up 1/4 cent; Portland, $8.60 to $8.73, down 5 to 2 cents; St. Louis, $7.93, up 3 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $7.72, up 3 to down 2 cents; Minneapolis, $7.22 1/4, down 1 3/4 cents; southern Iowa, $7.28 3/4 to $7.38 1/4, down 1 1/4 to 3/4 cents; Omaha, $7.57 to $7.62, down 2 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $15.26, up 4 cents; Minneapolis, no bids; southern Iowa, $14.87 3/4 to $14.88 3/4, up 17 1/2 to 14 1/2 cents; central Illinois processors, $15.12 3/4 to $15.28 3/4, up 14 1/2 cents.

Kansas City wheat prices Feb. 5, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.77 1/4 to $9.20 1/4, down 9 3/4 to 11 3/4 cents; 12% protein, $9.07 1/4 to $9.22 1/4, down 9 3/4 cents; 13% protein, $9.27 1/4 to $9.42 1/4, down 9 3/4 cents; 14% protein, $9.27 1/4 to $9.42 1/4, down 9 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $8 to $8.07, unchanged.

Date: 2/11/2013



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