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Soybeans see double-digit gains, corn sees lossesSoybeans had double-digit gains while wheat suffered double-digit losses with corn posting modest losses, according to the National Grain Market Summary, March 4. Soybeans had sharp gains on strong weekly export inspections as demand remains good. Corn had modest losses on negative outside markets as precious metals were lower along with crude oil. Wheat had sharp losses as improved moisture conditions through the Plains pressured wheat futures. Wheat closed 16 to 20 cents lower. Corn traded 3 to 7 cents lower. Soybeans closed 13 to 23 cents higher. Grains inspected for export for week ending Feb. 28: Wheat totaled 24.0 million bushels, up 2.8 million bushels; corn 15.7 million bushels, up 4.0 million bushels; sorghum 1.7 million bushels, up 1.2 million bushels and soybeans 40.3 million bushels, up 12.5 million bushels compared to a week ago. Year to date: Wheat totaled 692.3 down 51.4 million; corn 364.2 down 471.8 million; sorghum 45.5 million up 10.8 million, and soybeans 1147.3 up 238.8 million. Crop marketing years begin June 1 for wheat and Sept. 1 for corn, sorghum, and soybeans. In the futures close, Kansas City May wheat was $7.38, down 18 cents. Terminal wheat bids, paid for truck delivery, included Kansas City, $7.01 to $7.03, down 18 to 16 cents; Minneapolis, $8.32 1/4, down 13 cents; Portland, $8.50 to $8.52 1/2, down 20 to 18 1/2 cents; St. Louis, $7.41, down 18 cents. Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $7.50 to $7.51, down 7 to 6 cents; Minneapolis, $6.98 1/4, down 4 1/4 cents; southern Iowa, $7.17 3/4 to $7.29 3/4, down 5 1/4 to 3 1/4 cents; Omaha, $7.39 to $7.42, down 5 to 6 cents. Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $14.92 to $14.97, up 13 to 18 cents; Minneapolis, no bids; southern Iowa, $14.75 to $14.91, up 13 1/2 to 23 cents; central Illinois processors, $14.97 to $15.12, up 18 1/2 to 21 1/2 cents. Kansas City wheat prices March 5, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.05 to $8.60, up 7 cents; 12% protein, $8.50 to $8.65, up 7 cents; 13% protein, $8.57 to $8.72, up 7 cents; 14% protein, $8.57 to $8.72, up 7 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $7.45 to $7.58, unchanged. Date: 3/11/2013
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