Cash bids for wheat, corn mixed

Compared to last week, cash bids for wheat and corn were mixed, while sorghum was higher, and soybeans were lower according to the Weekly National Grain Market Review, Dec. 14.

The U.S. Department of Agriculture said export sales and shipments of corn during the first full week of December totaled 35.6 million and 37.5 million bushels, respectively, a neutral showing that has total shipments up 79 percent from a year ago and total export commitments up 16 percent.

Last week’s export sales and shipments of soybeans totaled 29.1 million and 42.1 million bushels, respectively, still a bearish pace despite China’s purchase earlier this week. Last week’s export sales and shipments of wheat totaled 27.7 million and 18.0 million bushels, respectively. After USDA reduced the export estimate for wheat by 25 million to 1.0 billion bushels on Dec. 11, total wheat shipments are now down 14 percent from a year ago and total export commitments are down 10 percent, slowly closing the gap with USDA’s higher estimated pace. 

Wheat was from 5 cents lower to 26 cents higher. Corn was from 6 1/2 cents lower to 4 1/2 cents higher. Sorghum was 2 to 3 cents higher. Soybeans were 2 1/2 to 10 1/2 cents lower.

The following prices are from Dec. 18 due to changes in reporting from the Agricultural Marketing Service.

In the futures close, Kansas City March wheat was $5.19 to $5.17, down 5 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $5.27 1/4, down 4 3/4 cents; Minneapolis, $6.46 3/4, no comparisons; Portland, $6.15 to $6.30, unchanged; St. Louis, $5.58, down 2 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.75 1/2 to $3.77 1/2, up 1 1/2 cents; Minneapolis, $3.29 1/2, up 1/2 cent; southern Iowa, $3.45 1/2 to $3.55 1/2, up 1 1/2 cents; Omaha, $3.66, up 2 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.67 3/4 to $8.72 3/4, up 3 cents; Minneapolis, $8.29 3/4, up 3 cents; southern Iowa, $8.42 3/4 to $8.48 3/4, up 8 to 3 cents; central Illinois processors, $8.77 3/4 to $8.97 3/4, up 18 to 8 cents.

Kansas City wheat prices Dec. 18, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.25 1/4 to $6.37 1/4, down 4 3/4 cents; 12 percent protein, $6.47 1/4 to $6.62 1/4, down 4 3/4 cents; 13 percent protein, $6.47 1/4 to $6.62 1/4, down 4 3/4 cents; 14 percent protein, $6.47 1/4 to $6.62 1/4, down 4 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.83 1/4 to $3.86 1/2, unchanged to up 1/2 cent.