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Corn, soybeans close lower


Corn and soybeans closed lower on a bearish U.S. Department of Agriculture grain stocks report, according to the National Grain Market Summary, Sept. 30.

Corn closed with double-digit losses with stocks totaling 824 million bushels, 74 million bushels higher than the highest estimate of 750 million bushels. Soybeans closed with sharp losses as USDA had stocks at 141 million bushels which is at the high end of trade estimates. Wheat stocks for Sept. 1 came in less than expected at 1,855 billion bushels, but all total wheat production totaled 2,128 billion bushels for 2013-2014 which is 14 million bushels more than expected.

Wheat closed mostly 7 cents higher. Corn traded 12 cents lower. Soybeans closed 27 to 37 cents lower.

In the futures close, Kansas City December wheat was $7.39 1/2, up 7 3/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $7.39 1/2, up 7 3/4 cents; Minneapolis, $7.78 3/4, up 7 1/4 cents; Portland, $7.05 to $7.18 1/2, unchanged to down 4 1/2 cents; St. Louis, $6.70, down 5 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.41 1/2, down 12 1/2 cents; Minneapolis, $4.10 1/2, down 12 1/2 cents; southern Iowa, unavailable; Omaha, $4.37 to $4.42, down 12 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $12.72 3/4, down 27 cents; Minneapolis, $12.52 3/4, down 37 cents; southern Iowa, unavailable; central Illinois processors, $12.72 3/4 to $12.82 3/4, down 37 cents.

Kansas City wheat prices Sept. 30, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $8.25 1/2 to $8.44 1/2, up 7 3/4 cents; 12% protein, $8.45 1/2 to $8.55 1/2, up 7 3/4 cents; 13% protein, $8.49 1/2 to $8.64 1/2, up 7 3/4 cents; 14% protein, $8.54 1/2 to $8.64 1/2, up 7 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $4.76 to $4.97, down 13 to up 3.

Date: 10/7/2013



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