Cash bids for wheat, sorghum lower

Compared to Oct. 29, cash bids for wheat and sorghum were mostly lower, while soybeans and corn were mixed, according to the National Grain Market Summary, Oct. 30.

The U.S. Department of Agriculture said 63 percent of the corn had been harvested, even with its five-year average pace. However, progress is lagging in Iowa, Nebraska and the Dakotas. The good news for growers in those states is that they are expecting mostly dry weather the next seven days. 72 percent of soybeans were harvested, down from the five-year average of 81 percent for this time of year. 78 percent of the winter wheat crop has been planted, down from a five-year average of 85 percent. In Kansas, the pace remains slower than usual. 89 percent of Kansas wheat is usually in the ground by now, but only 76 percent has been planted.

Wheat was steady to 8 cents lower. Corn was from 2 cents lower to 1 cent higher. Soybeans were from 18 1/2 cents lower to 1 1/2 cents higher. Sorghum was 3 3/4 cents lower.

In the futures close, Kansas City December wheat was $4.94 3/4, down 6 3/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $4.94 3/4, down 6 3/4 cents; Minneapolis, $5.71 1/2, down 6 cents; Portland, $6.15 to $6.17, unchanged; St. Louis, $4.59 to $5.19, down 8 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.46 3/4 to $3.51 3/4, down 2 cents; Minneapolis, $3.16 3/4, down 2 cents; southern Iowa, $3.19 3/4 to $3.33 3/4, unchagned to up 1 cent; Omaha, $3.30 to $3.40, down 2 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $7.83 1/2 to $7.88 1/2, down 5 1/2 cents; Minneapolis, $7.43 1/2, down 18 1/2 cents; southern Iowa, $7.59 1/2 to $7.67 1/2, down 1 1/2 to 3 1/2 cents; central Illinois processors, $7.78 1/2 to $8.02 1/2, down 5 1/2 to up 1 1/2 cents.

Kansas City wheat prices June 2, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $7.15 to $7.79, down 7 cents; 12% protein, $7.66 to $7.84, down 7 cents; 13% protein, $7.74 to $7.97, down 7 cents; 14% protein, $7.87 to $8.02, down 7 cents. U.S. No. 2 soft red winter wheat was $6.29 to $6.79, down 7cents. U.S. No. 2 white corn was $4.16 to $4.65, unchanged.