Cash bids higher
Compared to Feb. 5, cash bids for sorghum, corn, and soybeans were higher, while wheat was steady to higher, according to the National Grain Market Summary, Feb. 6.
The trend in March corn continues to work higher, in line with its seasonal tendency. Corn prices may have been helped by the Feb. 6 news from USDA that U.S. ethanol exports were up 60 percent in December from a year ago. Exports of distillers grains were also up 15 percent in December from a year ago. So far for wheat, the threat of dry weather has been bullish enough to keep bearish noncommercial traders on their heels. For now, the trend remains up in winter wheat.
Corn was 4 3/4 to 5 cents higher. Sorghum was 8 1/2 cents higher. Soybeans were 16 1/2 to 21 1/2 cents higher. Wheat was steady to 7 1/4 cents higher.
In the futures close, Kansas City March wheat was $4.69, up 7 1/4 cents.
Terminal wheat bids, paid for truck delivery, included Kansas City, $4.59, up 7 1/4 cents; Minneapolis, $6.23 1/4, up 6 1/2 cents; Portland, $5.30 to $5.44, up 2 3/4 cents to unchanged; St. Louis, $4.46 to $4.63, up 6 to 7 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.48 1/2, up 4 3/4 cents; Minneapolis, unavailable; southern Iowa, $3.38 1/2 to $3.48 1/2, up 4 3/4 cents; Omaha, $3.43 to $3.45, up 5 cents.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.51 1/4 to $9.56 1/4, up 16 1/2 cents; Minneapolis, unavailable; southern Iowa, $9.46 1/4 to $9.53 1/4, up 16 1/2 to 15 1/2 cents; central Illinois processors, $9.71 1/4 to $9.83 1/4, up 21 1/2 to 16 1/2 cents.
Kansas City wheat prices Feb. 6, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.44 to $5.59, up 7 1/4 cents; 12% protein, $6.34 to $6.49, up 7 1/4 cents; 13% protein, $6.94 to $7.09, up 7 1/4 cents; 14% protein, $6.94 to $7.09, up 7 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was unavailable.
