Wheat bids lower

Compared to Aug. 27, cash bids for wheat was steady to lower; corn, wheat and sorghum were lower, according to the National Grain Market Summary, Aug. 28.

Analysts are concerned about soybean carryout bushels reported recently and how the recent August rains will affect yields. Typically moisture in August bodes well for soybean yield increases. The corn crop is maturing faster than normal as 61 percent of corn is dented, compared to the 5 year average of 42 percent.

Wheat was steady to 2 1/2 cents lower. Corn was 5 3/4 cents to 7 3/4 cents lower. Soybeans were 11 cents to 20 cents lower. Sorghum was 9 1/2 cents lower.

In the futures close, Kansas City September wheat was $4.99 1/4, down 2 1/2 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $5.29 1/4, down 2 1/2 cents; Minneapolis, $5.44 1/2, down 2 1/4 cents; Portland, $5.95 to $6.08, unchanged; St. Louis, $4.83 to $4.98, down 1 cent.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.26 to $3.31, down 5 3/4 cents; Minneapolis, $2.83, down 7 3/4 cents; southern Iowa, $3 1/4 to $3.15, down 7 1/2 to 5 3/4 cents; Omaha, $3.15 to $3.19, down 6 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $7.88 1/4, down 15 cents; Minneapolis, $7.18 1/4, down 15 cents; southern Iowa, $7.35 1/4 to $7.52 1/4, down 15 to 11 cents; central Illinois processors, $7.68 1/4 to $7.98 1/4, down 15 to 20 cents.

Kansas City wheat prices Aug. 28, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.04 1/4 to $6.19 1/4, down 2 1/4 cents; 12% protein, $6.34 1/4 to $6.49 1/4, down 2 1/4 cents; 13% protein, $6.49 1/4 to $6.64 1/4, down 2 1/2 cents; 14% protein, $6.49 1/4 to $6.64 1/4, down 2 1/2 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.50 3/4 to $3.57 3/4, down 2 1/4 to 1 cent.