Corn, wheat, sorghum cash bids lower compared to last week

Compared to last week, cash bids for corn, wheat and sorghum are lower; soybeans are higher, according to the Weekly National Grain Market Review, May 1.

For the week ending April 23, an increase of 53.4 million bushels of corn export sales for 2019-20 were reported while an increase of 39.6 million bushels of soybean exports sales for 2019-20 were formulated.  Wheat export sales showed an increase of 17.2 million bushels for 2019-20 were reported. Sorghum export sales showed an increase of 12.0 million bushels for 2019-20 were reported.

Ethanol production for the week ending April 24, reported a decrease of 24,000 barrels per day to 0.537 million barrels a day. Ethanol stocks decreased 1.4 million barrels at 26.3 million barrels.

For the week ending April 26, corn planted is at 27 percent which is 15 percent higher than a year ago. Soybeans planted is at 8 percent which is 6 percent higher than a year ago. Sorghum is at 20 percent which is 1 percent higher than a year ago.

Wheat was 6 1/2 to 21 cents lower.  Corn was 2 3/4 to 11 1/2 cents lower.  Sorghum was 14 to 27 cents lower.  Soybeans were 11 to 14 cents higher.

In the futures close May 5, Kansas City May wheat was $4.83, down 3/4 cent.

Terminal wheat bids May 5, paid for truck delivery, included Kansas City, $4.94 to $4.99, down 3 cents; Minneapolis, no quote; Portland, $6 to $6.08, unchanged; St. Louis, $5.42, up 1 cent.

Terminal corn bids May 5, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.12 to $3.17, up 1 1/2 cents; Minneapolis, $2.92, up 5 1/2 cents; southern Iowa, $3.06 to $3.15, up 1 cent; Omaha, $2.88 to $3.02, up 1 cent.

Terminal soybean bids May 5, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.19 1/2 to $8.34 1/2, up 3 cents; Minneapolis, $8.23 1/2, up 3 cents; southern Iowa, $8.37 1/2 to $8.43 1/2, up 4 to 4 1/4 cents; central Illinois processors, $8.36 1/2 to $8.54 1/2, up 3 cents to unchanged.

Kansas City wheat prices May 5, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.55 to $5.65, down 3 cents; 12% protein, $5.89 to $5.99, down 3 cents; 13% protein, $6.20 to $6.30, down 3 cents; 14% protein, $6.35 to $6.45, down 3 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.14 to $3.18 1/2, up 1 3/4 to 1 1/4 cents.