Corn, soybean cash bids higher

Compared to May 7, cash bids for corn and soybeans were higher, wheat was mixed, while sorghum was not quoted May 8, according to the National Grain Market Summary.

Rapid planting progress reports and fresh selling interest limited advances. Losses were held in check by solid demand on corn and thoughts more buyers will soon be showing up for U.S. soybeans, as U.S. offerings are the cheapest in the global market at this time.

Corn was 1 1/2 to 4 1/2 cents higher. Sorghum was not quoted. Soybeans were 8 3/4 to 11 3/4 cents higher. Wheat was from 1 1/4 cents lower to 3 cents higher.

In the futures close, Kansas City July wheat was $5.28 1/4, down 1 1/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $5.19 1/4, down 1 1/4 cents; Minneapolis, $6.44, up 3 cents; Portland, $5.79 1/2 to $6, up 3 cents to unchanged; St. Louis, $5 to $5.22, up 3 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.89 1/4, up 2 1/2 cents; Minneapolis, $3.61 1/4, up 3 1/2 cents; southern Iowa, $3.76 1/4 to $3.82 1/4, up 1 1/2 to 4 1/2 cents; Omaha, $3.76 to $3.82, up 2 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.95 1/4, up 8 3/4 cents; Minneapolis, $9.66 1/4, up 8 3/4 cents; southern Iowa, $9.83 1/4 to $9.87 1/4, up 11 3/4 to 9 3/4 cents; central Illinois processors, $9.95 1/4 to $10.07 1/4, up 8 3/4 cents.

Kansas City wheat prices May 8, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.19 1/4 to $6.34 1/4, down 1 1/4 cents; 12% protein, $6.69 1/4 to $6.84 1/4, down 1 1/4 cents; 13% protein, $6.74 1/4 to $6.89 1/4, down 1 1/4 cents; 14% protein, $7.24 1/4 to $7.39 1/4, down 1 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.09 1/4 to $3.95, down 1 to 1 3/4 cents.