Cash bids end day mostly lower
Compared to Aug. 20, cash bids for wheat, corn, soybeans, and sorghum were mostly lower, according to the National Grain Market Summary, Aug. 21.
Corn prices have held roughly steady since suffering a drop after USDA estimated a larger-than-expected 14.6 billion bushel crop on August 10. Soybean traders are awaiting the meeting on tariffs between the U.S. and China that starts Aug. 22. Despite wheat losing its uptrend it had since July, world ending-wheat stocks are expected to be lower in 2018-19, which should help prices find a higher level of support than a year ago.
Wheat was 5 to 18 cents lower. Corn was steady to 3 1/4 cents lower. Soybeans were 7 1/4 to 16 1/4 cents lower. Sorghum was 4 cents lower.
In the futures close, Kansas City September wheat was $5.34 1/2, down 12 3/4 cents.
Terminal wheat bids, paid for truck delivery, included Kansas City, $5.64 1/2, down 12 3/4 cents; Minneapolis, $5.78 3/4, down 5 1/2 cents; Portland, $6.10 to $6.15, down 5 cents; St. Louis, $5.22 to $5.27, down 15 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.44 3/4 to $3.49 3/4, down 2 1/4 cents; Minneapolis, $3.14 3/4, down 1/4 cent; southern Iowa, $3 3/4 to $3.38 3/4,down 3 1/4 to 2 1/4 cents; Omaha, $3.34 to $3.35, unchanged to down 2 cents.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.46, down 7 1/4 cents; Minneapolis, $7.97, down 7 1/4 cents; southern Iowa, $8.18 to $8.23, down 9 1/4 to 16 1/4 cents; central Illinois processors, $8.46 to $8.66, down 7 1/4 cents.
Kansas City wheat prices Aug. 22, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.39 1/2 to $6.54 1/2, down 12 3/4 cents; 12% protein, $6.63 1/2 to $6.78 1/2, down 8 3/4 cents; 13% protein, $8.74 1/2 to $6.89 1/2, down 7 3/4 cents; 14% protein, $6.74 1/2 to $6.89 1/2, down 7 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.68 1/2 to $3.73 3/4, down 1 to 2 1/4 cents.
