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Wheat sees sharp gains, others modest losses


Wheat closed with sharp gains as corn and soybeans closed with modest losses, according to the National Grain Market Summary, April 30.

Corn planting showed only 5 percent of the crop planted compared to the 5 year average of 31 percent. There is more rain in the forecast across the Midwest but there is still time to plant corn with today’s equipment. Soybeans followed corn lower. Wheat saw USDA lower good to excellent ratings in Kansas to 27 percent, 23 percent in Oklahoma and 7 percent in Texas as dry conditions in the Southern Plains along with freezing temperatures has eroded wheat conditions.

Wheat closed 12 to 17 cents higher. Corn traded mostly 4 to 10 cents lower. Soybeans closed mostly 10 to 16 cents lower.

In the futures close, Kansas City May wheat was $7.98, up 17 1/4 cents; July wheat was $7.89 1/2, up 13 3/4.

Terminal wheat bids, paid for truck delivery, included Kansas City, $7.78, up 17 to 13 cents; Minneapolis, $8.67, up 3 cents; Portland, $7.75 to $7.86, no comparison; St. Louis, $7.47, up 12 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $7.10, down 10 cents; Minneapolis, $6.54, down 11 3/4 cents; southern Iowa, $6.86 to $6.98 1/4, down 1 3/4 to 3 1/4 cents; Omaha, $7.05 to $7.11, down 7 to 4 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $14.99, down 10 cents; Minneapolis, $14.50, up 1 1/4 cents; southern Iowa, $14.72 3/4 to $14.78 3/4, down 14 to 16 cents; central Illinois processors, $15.04 to $15.24, up 5 1/4 to 1/4 cents.

Kansas City wheat prices April 30, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.60 1/2 to $8.99 1/2, up 13 3/4 cents; 12% protein, $8.89 1/2 to $9.20 1/2, up 13 3/4 cents; 13% protein, $9.10 1/2 to $9.38 1/2, up 13 3/4 cents; 14% protein, $9.23 1/2 to $9.38 1/2, up 13 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $7.08 to $7.29, up 23 to 11 cents.

Date: 5/6/2013



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