Cash bids for wheat, soybeans higher; corn mixed; sorghum lower
Compared to last week, cash bids for wheat and soybeans are higher; corn is mixed and sorghum is lower, according to the Weekly National Grain Market Review, April 10.
For the week ending April 2, an increase of 72.8 million bushels of corn export sales for 2019-20 were reported while an increase of 19.2 million bushels of soybean exports sales for 2019-20 were formulated. Wheat export sales showed an increase of 9.5 million bushels for 2019-20 were reported. Sorghum export sales showed an increase of 14.7 million bushels for 2019-20 were reported.
Ethanol production for the week ending April 2 reported a decrease of 168,000 barrels per day to 0.672 million barrels a day. Ethanol stocks increased 1.4 million barrels at 27.1 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 steady to 28 cents higher. Corn was 6 3/4 cents lower to 3 cents higher. Sorghum was 3 to 11 cents lower. Soybeans were 2 3/4 cents higher to 6 3/4 cents higher.
In the futures close April 14, Kansas City March wheat was $4.83 3/4, down 10 1/4 cents.
Terminal wheat bids April 14, paid for truck delivery, included Kansas City, $4.93 3/4, down 10 1/4 cents; Minneapolis, no quote; Portland, $6.10 to $6.12, unchanged to up 2 cents; St. Louis, $5.64, down 7 cents.
Terminal corn bids April 14, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.21 to $3.26, down 5 1/2 cents; Minneapolis, $2.99, down 6 1/2 cents; southern Iowa, $3.17 to $3.23, down 7 1/2 to 6 1/2 cents; Omaha, $3.04 to $3.12, down 5 to 6 cents.
Terminal soybean bids April 14, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.27 to $8.42, down 7 1/4 cents; Minneapolis, $8.23, down 6 1/4 cents; southern Iowa, $8.39 to $8.47, down 6 1/4 cents; central Illinois processors, $8.52 to $8.63, down 7 1/4 to 6 1/4 cents.
Kansas City wheat prices April 14, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.64 3/4 to $5.74 3/4, down 14 1/4 cents; 12% protein, $6.13 3/4 to $6.23 3/4, down 20 1/4 cents; 13% protein, $6.38 3/4 to $6.48 3/4, down 15 1/4 cents; 14% protein, $6.61 3/4 to $6.71 3/4, down 15 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.25 3/4 to $3.32, down 3/4 to 2 cents.