Cash bids for wheat lower, other bids higher

Compared to Aug. 31, cash bids for wheat were lower, corn, soybeans, and sorghum were higher, according to the National Grain Market Summary, Sept. 4.

Wheat markets saw pressure Sept. 4 from reports that Russia will not be limiting its wheat exports this year. Corn and soybeans markets saw slight gains from flooding concerns in some parts of the Midwest. The USDA said last week 28.3 million bushels of soybeans and 14.4 million bushels of wheat were inspected for export.

Wheat was mostly 14 to 16 cents lower. Corn was mostly 3 to 4 cent higher. Soybeans were mostly 3/4 cent higher. Sorghum was 5 3/4 cents higher.

In the futures close, Kansas City September wheat was $5.08, down 15 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $5.38, down 15 cents; Minneapolis, $5.95 3/4, down 14 cents; Portland, $5.95 to $6.12, up 5 to 4 cents; St. Louis, $4.92 to $5.01, down 11 to 7 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.39 1/2 to $3.44 1/2, up 3 1/2 cents; Minneapolis, $2.97 1/4, up 3 1/4 cents; southern Iowa, $3.15 1/4 to $3.31 1/4, down 1 3/4 to up 6 1/4 cents; Omaha, $3.30 to $3.36, up 4 to 3 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $7.99 1/4, up 3/4 cent; Minneapolis, $7.31 1/4, up 3/4 cent; southern Iowa, $7.46 1/4 to $7.66 1/4, up 3/4 to down 17 1/4 cents; central Illinois processors, $7.84 1/4 to $8.09 1/4, down 1/4 to up 3/4 cent.

Kansas City wheat prices Sept. 4, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.03 to $6.18, down 16 1/4 cents; 12% protein, $6.28 to $6.43, down 16 1/4 cents; 13% protein, $6.30 to $6.45, down 14 1/4 cents; 14% protein, $6.30 to $6.45, down 14 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was unavailable.