Cash bids lower except soybeans
Compared to Aug. 6, cash bids for wheat, corn, and sorghum were mostly lower, while soybeans were higher, according to the National Grain Market Summary, Aug. 7.
The United States has not seen the decline in soybean sales that was forecasted when Chinese tariffs went into effect. This is because other buyers have stepped in to book U.S. offerings. Year to date U.S. soybean sales to China are just 78 percent of a year ago, while others are much higher, with some hitting 400 percent of last year’s bookings.
Wheat was steady to 9 cents lower. Corn was from a 1/4 to 3 cents lower. Soybeans were 8 1/2 to 14 1/4 cents higher. Sorghum was 1 1/4 to 1 1/2 cents lower.
In the futures close, Kansas City September wheat was $5.79 1/2, down 6 1/2 cents.
Terminal wheat bids, paid for truck delivery, included Kansas City, $6.09 1/2, down 6 1/2 cents; Minneapolis, $6.27 3/4, down 1/2 cent; Portland, $6.06 to $6.15, unchanged; St. Louis, $5.63 to $5.68, down 9 to 7 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.65 3/4 to $3.66 3/4, down 1/4 cent; Minneapolis, $3.05 3/4, down 1/4 cent; southern Iowa, $3.29 3/4 to $3.36 3/4, down 1/4 cent; Omaha, $3.46 to $3.48, down 1 to 3 cents.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.75 3/4, up 12 1/4 to 8 1/2 cents; Minneapolis, $7.97 3/4, up 12 1/4 cents; southern Iowa, $8.27 3/4 to $8.39 3/4, up 12 1/4 to 14 1/4 cents; central Illinois processors, $8.63 3/4 to $8.90 3/4, up 15 1/4 to 12 1/4 cents.
Kansas City wheat prices Aug. 7, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.64 1/2 to $6.79 1/2, down 6 1/2 cents; 12% protein, $6.94 1/2 to $7.09 1/2, down 6 1/2 cents; 13% protein, $7.04 1/2 to $7.19 1/2, down 6 1/2 cents; 14% protein, $7.04 1/2 to $7.19 1/2, down 6 1/2 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.78 3/4 to $3.83 1/4, up 3/4 to 1 1/4 cents.