Corn, sorghum, soybean cash bids lower
Compared to Sept. 17, cash bids for corn, sorghum, and soybeans were lower, while wheat was mostly higher, according to the National Grain Market Summary, Sept. 18.
An announcement was released late Sept. 17 that another round of tariffs would be placed on Chinese goods amounting to $200 billion dollars and would begin Sept. 24. Trump and senior officials said the third list of goods have 10 percent tariffs until the end of the year and increase to 25 percent starting on Jan. 1, 2019 unless the U.S. and China come to an agreement. A large number of agricultural items are on this new list. A statement issued on Sept. 17 from Trump’s office stated that if China takes retaliatory action, he would pursue additional tariffs on Chinese imports amounting to approximately $267 billion dollars.
Wheat was steady to 6 cents higher. Corn was 4 3/4 to 9 3/4 cents lower. Soybeans were 1 1/2 to 16 1/2 cents lower. Sorghum was 8 1/2 cents lower.
In the futures close, Kansas City December wheat was $5.16, up 3.25 cents.
Terminal wheat bids, paid for truck delivery, included Kansas City, $5.16, up 3.25 cents; Minneapolis, $5.55 1/4, up 5 cents; Portland, $5.90 to $6.01, unchanged to up 6 cents; St. Louis, $4.70 to $4.71, up 4 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.12 1/4 to $3.13 1/4, down 4 3/4 cents; Minneapolis, $2.80 1/4, down 9 3/4 cents; southern Iowa, $2.85 1/4 to $3.05 1/4, down 8 3/4 to 6 3/4 cents; Omaha, $2.94 to $3.13, down 9 to 5 cents.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $7.69, down 9 1/2 cents; Minneapolis, $7.05, down 1 1/2 cents; southern Iowa, $7.10 to $7.21, down 16 1/2 to 9 1/2 cents; central Illinois processors, $7.49 to $7.64, down 14 1/2 to 9 1/2 cents.
Kansas City wheat prices Sept. 18, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.81 to $5.96, up 3.25 cents; 12% protein, $5.91 to $6.06, up 3 1/4 cents; 13% protein, $6.01 to $6.16, up 3 1/4 cents; 14% protein, $6.01 to $6.16, up 3 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.42 1/2 to $3.48 3/4, down 5 1/4 to 3 cents.