Cash bids mostly higher
Compared to last week, cash bids for wheat was mostly higher; corn and sorghum was higher and soybeans were lower, according to the Weekly National Grain Market Review, Jan. 24.
For the week ending Jan. 16, an increase of 39.6 million bushels of corn export sales for 2019-20 were reported while an increase of 29.0 million bushels of soybean exports sales for 2019-20 were formulated. Wheat export sales showed an increase of 25.6 million bushels for 2019-20 were reported.
Ethanol production for the week ending Jan. 17, reported an decrease of 46,000 barrels per day to 1.049 million barrels a day. Ethanol stocks increased 1.025 million barrels at 24.031 million barrels.
Wheat was 2 1/2 cents lower to 20 1/2 cents higher. Corn was 6 1/4 cents to 19 1/4 cents higher. Sorghum was 32 to 34 cents higher. Soybeans were 11 1/2 cents to 17 1/2 cents lower.
In the futures close Jan. 28, Kansas City March wheat was $4.82, down 4 1/2 cents.
Terminal wheat bids Jan. 28, paid for truck delivery, included Kansas City, $4.72 to $4.92, down 4 1/2 cents; Minneapolis, no quotes; Portland, $6.30, up 10 cents to unchanged; St. Louis, $6.40, down 3 cents.
Terminal corn bids Jan. 28, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.96 1/2, up 6 cents; Minneapolis, $3.56 1/2, up 6 cents; southern Iowa, $3.66 1/2 to $3.81 1/2, up 6 cents; Omaha, $3.80 to $3.90, up 6 cents.
Terminal soybean bids Jan. 28, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.72 to $8.90, down 2 1/4 cents; Minneapolis, $8.53, down 2 1/4 cents; southern Iowa, $8.65 to $8.70, down 1/4 cent; central Illinois processors, $8.95 to $9.03, down 2 1/4 cents.
Kansas City wheat prices Jan. 28, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.57 to $5.67, down 4 1/2 cents; 12% protein, $6.17 to $6.27, down 4 1/2 cents; 13% protein, $6.67 to $6.77, down 4 1/2 cents; 14% protein, $6.92 to $7.02, down 4 1/2 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $4.03 1/2 to $4.12, up 1 1/4 to 2 1/4 cents.
