Cash bids for wheat, corn, soybeans lower; sorghum mixed

Compared to last week, cash bids for wheat, corn and soybeans are lower; sorghum is mixed, according to the Weekly National Grain Market Review, April 3.

For the week ending March 26, an increase of 42.3 million bushels of corn export sales for 2019-20 were reported while an increase of 35.2 million bushels of soybean exports sales for 2019-20 were formulated.  Wheat export sales showed an increase of 2.7 million bushels for 2019-20 were reported. Sorghum export sales showed an increase of 7.9 million bushels for 2019-20 were reported.

Ethanol production for the week ending March 27 reported a decrease of 165,000 barrels per day to 0.840 million barrels a day. Ethanol stocks increased 1.6 million barrels at 25.7 million barrels.

Corn planted in 2020 is estimated at 97.0 million acres, up 8 percent or 7.29 million acres from last year. Soybean planted for 2020 is estimated at 83.5 million acres, up 10 percent from last year. All wheat planted for 2020 is estimated at 44.7 million acres, down 1 percent from 2019

Corn stocks down 8 percent from March 2019. Soybean stocks down 17 percent and all wheat stocks down 11 percent.

Wheat was 5 cents lower to 58 1/4 cents lower.  Corn was 9 1/4 cents lower to 27 1/4 cents lower.  Sorghum was 28 cents lower to 27 cents higher.  Soybeans were 20 1/2 cents lower to 26 1/2 cents lower.

In the futures close April 7, Kansas City March wheat was $4.73 1/4, down 2 1/2 cents.

Terminal wheat bids April 7, paid for truck delivery, included Kansas City, $4.83 1/4, down 1 1/2 cents; Minneapolis, no quotes; Portland, $6.05 to $6.10, unchanged; St. Louis, $5.65, down 6 cents.

Terminal corn bids April 7, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.62 1/2 to $3. 31 1/2, up 3 3/4 cents; Minneapolis, $3.06 1/2, up 3 3/4 cents; southern Iowa, $3.23 1/2 to $3.39 1/2, up 2 3/4 to 3 3/4 cents; Omaha, $3.07 to $3.16, up 4 cents.

Terminal soybean bids April 7, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.34 3/4 to $8.49 3/4, down 3/4 cent; Minneapolis, $8.31 3/4, down 3/4 cent; southern Iowa, $8.44 3/4 to $8.52 3/4, down 1 3/4 to 3/4 cents; central Illinois processors, $8.59 3/4 to $8.68 3/4, down 3/4 cent.

Kansas City wheat prices April 7, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.58 1/4 to $5.68 1/4, down 1 1/2 cents; 12% protein, $6.13 1/4 to $6.23 1/4, down 1 1/2 cents; 13% protein, $6.38 1/4 to $6.48 1/4, down 1 1/2 cents; 14% protein, $6.56 1/4 to $6.66 1/4, down 1 1/2 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was unavailable.