Corn, wheat cash bids mixed while sorghum, beans higher
Compared to March 12, cash bids for corn and wheat were mixed, while sorghum and soybeans were higher, according to the National Grain Market Summary, March 13.
Corn stayed persistently close to its highest prices in six months with ongoing support from Argentina’s dry weather and USDA’s latest U.S. ending stocks estimate of 2.127 billion bushels. In spite of Brazil’s big soybean crop, which is no secret, and the likelihood that U.S. soybean plantings will total at least 90.0 million in 2018, the trends in May soybeans and meal remain up for now, scarred by last week’s bearish change in momentum. Even though drought remains a concern and the trends in May Chicago and Kansas City wheat are both still up, last week’s lower prices brought a bearish change in momentum that may serve as an early warning to non-commercials that turned bullish.
Corn was from 2 cents lower to 1 cent higher. Sorghum was 1 3/4 cents higher. Soybeans were 5 3/4 cents to 9 3/4 cents higher. Wheat was from 4 cents lower to 1 cent higher.
In the futures close, Kansas City May wheat was $5.20 1/4, down 2 cents.
Terminal wheat bids, paid for truck delivery, included Kansas City, $5.10 1/4, down 2 cents; Minneapolis, $6.40 1/2, up 1 cent; Portland, $5.40 to $5.64, unchanged to down 1 3/4 cents; St. Louis, $4.76 to $4.94, down 4 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.73 3/4, up 1 cent; Minneapolis, unavailable; southern Iowa, $3.51 3/4 to $3.63 3/4, down 2 to up 1 cent; Omaha, $3.64 to $3.66, up 1 cent.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $10.03 3/4 to $10.08 3/4, up 7 3/4 cents; Minneapolis, no comparison; southern Iowa, $9.82 3/4 to $9.88 3/4, up 7 3/4 to 5 3/4 cents; central Illinois processors, $10.12 3/4 to $10.30 3/4, up 9 3/4 to 7 3/4 cents.
Kansas City wheat prices March 13, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.95 1/4 to $6.10 1/4, down 2 cents; 12% protein, $6.45 1/4 to $6.60 1/4, down 2 cents; 13% protein, $6.85 1/4 to $7 1/4, down 2 cents; 14% protein, $6.85 1/4 to $7 1/4, down 2 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was unavailable.
