Cash bids remain mixed

Compared to last week, cash bids for wheat were higher; corn and sorghum were lower and soybeans were mixed, according to the Weekly National Grain Market Review, Feb. 21.

For the week ending Feb. 13, an increase of 49.2 million bushels of corn export sales for 2019-20 were reported while an increase of 18.2 million bushels of soybean exports sales for 2019-20 were formulated. Wheat export sales showed an increase of 12.7 million bushels for 2019-20 were reported.

Ethanol production for the week ending Feb. 14 reported an decrease of 7,000 barrels per day to 1.040 million barrels a day. Ethanol stocks increased 0.423 million barrels at 24.781 million barrels.

The Ag Outlook Board released estimated plantings of corn in the U.S. this year to be 94.5 million acres, an average yield of 178.5 bpa for a total production of 15.5 billion bushels. Estimated plantings of soybeans acres were pegged at 84.0 million acres, an average yield of 50.5 bpa for a total production of 4.2 billion bushels.

Wheat was steady to 11 cents higher. Corn was 1 cent to 6 cents lower. Sorghum was 2 cents to 19 cents lower. Soybeans were 3 1/2 cents lower to 2 1/2 cents higher.

In the futures close Feb. 24, Kansas City March wheat was $4.52 1/4, down 16 1/4 cents.

Terminal wheat bids Feb. 24, paid for truck delivery, included Kansas City, $4.47 1/4 to $4.62 1/4, down 16 1/4 cents; Minneapolis, no quotes; Portland, $6.15 to $6.18, down 5 to 7 cents; St. Louis, $5.91, down 20 cents.

Terminal corn bids Feb. 24, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.85 1/4 to $3.87 1/4, down 4 3/4 cents; Minneapolis, $4.22 1/4, down 4 3/4 cents; southern Iowa, $3.56 1/4, down 4 3/4 to 13 3/4 cents; Omaha, $3.70 to $3.74, down 3 to 8 cents.

Terminal soybean bids Feb. 24, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.64 1/4 to $8.84 1/2, down 20 1/4 to 16 1/4 cents; Minneapolis, $8.29 1/4, down 16 1/4 cents; southern Iowa, $8.58 1/4 to $8.58 1/4, down 16 1/4 to 17 1/4 cents; central Illinois processors, $8.84 1/4 to $8.91 1/4, down 16 1/4 cents.

Kansas City wheat prices Feb. 24, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.32 1/4 to $5.42 1/4, down 16 1/4 cents; 12% protein, $5.82 1/4 to $5.92 1/4, down 6 1/4 cents; 13% protein, $6.37 1/4 to $6.47 1/4, down 16 1/4 cents; 14% protein, $6.37 1/4 to $6.47 1/4, down 16 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.95 to $4.01 1/4, down 6 1/4 to 4 1/4 cents.