Cash bids for wheat, corn mixed
Compared to April 9, cash bids for wheat and corn were mixed, soybeans were mostly higher, while sorghum was not quoted April 10, according to the National Grain Market Summary.
Corn prices did not have much response after the April 10 WASDE report, and the trend remains sideways for May corn, but up for December corn. Brazil’s soybean crop estimate was increased to a record high 115.0 million metric tons (4.23 billion bushels) while Argentina’s estimate was cut from 47.0 million metric tons to 40.0 million metric tons (1.47 billion bushels). Earlier in the day, Argentina also made news with a soybean purchase from the U.S. for the first time in 20 years. There won’t be much spring wheat planting in April this year with snow still on the ground across the Northern Plains. For now, the trends for all three wheats remain sideways.
Corn was from 4 1/2 cents lower to a 1/2 cent higher. Sorghum was not quoted April 10. Soybeans were steady to 8 cents higher. Wheat was from 7 3/4 cents lower to 35 cents higher.
In the futures close, Kansas City May wheat was $5.21 3/4, down 1 cent.
Terminal wheat bids, paid for truck delivery, included Kansas City, $5.11 3/4, down 1 cent; Minneapolis, $6.56 1/2, unchanged; Portland, $5.75 to $5.90, up 35 to down 7 3/4 cents; St. Louis, $4.87 to $5.04, up 2 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.75 3/4, down 1 1/2 cents; Minneapolis, $3.42 1/4, down 4 1/2 cents; southern Iowa, $3.54 1/4 to $3.62 1/4, down 1 1/2 to up 1/2 cent; Omaha, $3.66 to $3.69, down 2 cents.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $10.15 to $10.20, up 3 cents; Minneapolis, $10, up 8 cents; southern Iowa, $10.16 to $10.21, up 6 cents to unchanged; central Illinois processors, $10.34 to $10.40, up 3 cents.
Kansas City wheat prices April 10, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.05 3/4 to $6.20 3/4, down 1 cent; 12% protein, $6.52 3/4 to $6.67 3/4, down 1 cent; 13% protein, $6.66 3/4 to $6.81 3/4, down 1 cent; 14% protein, $6.86 3/4 to $7.01 3/4, down 1 cent. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.88 1/2 to $3.92 1/4, down 1/4 cent.