Corn, wheat cash bids mostly higher, sorghum steady to higher

Compared to last week, cash bids for corn and wheat are mostly higher; sorghum is steady to higher and soybeans are lower, according to the Weekly National Grain Market Review, May 22.

For the week ending May 14, an increase of 34.8 million bushels of corn export sales for 2019-20 were reported while an increase of 44.3 million bushels of soybean exports sales for 2019-20 were formulated.  Wheat export sales showed an increase of 6.5 million bushels for 2019-20 were reported. Sorghum export sales reported an increase of 3.3 million bushels for 2019-20.

Ethanol production for the week ending May 15, reported an increase of 46,000 barrels per day to 0.663 million barrels a day. Ethanol stocks decreased 0.564 million barrels at 23.6 million barrels.

Wheat was 6 cents lower to 11 cents higher.  Corn was 3/4 cents lower to 5 1/4 cents higher.  Sorghum was steady to 4 cents higher.  Soybeans were 2 to 9 cents lower.

In the futures close May 26, Kansas City July wheat was $4.47 1/4, up 2 3/4 cents.

Terminal wheat bids May 26, paid for truck delivery, included Kansas City, $4.57 1/4 to $4.62 1/4, up 2 3/4 cents; Minneapolis, no quote; Portland, $6 to $6.05, unchanged to down 2 cents; St. Louis, $5.26, down 2 cents.

Terminal corn bids May 26, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.17 to $3.27, up 1 cent; Minneapolis, $2.98, up 1 cent; southern Iowa, $3.14 to $3.20, up 4 to 1 cent; Omaha, $2.99 to $3.09, up 1 cents.

Terminal soybean bids May 26, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.24 to $8.52, up 10 3/4 to 13 3/4 cents; Minneapolis, $8.25, up 13 3/4 cents; southern Iowa, $8.41 to $8.46, up 15 3/4 to 13 3/4 cents; central Illinois processors, $8.44 to $8.55, up 13 3/4 to 11 3/4 cents.

Kansas City wheat prices May 26, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.37 3/4 to $5.47 1/4, up 2 3/4 cents; 12% protein, $5.67 1/4 to $5.77 1/4, up 2 3/4 cents; 13% protein, $5.82 1/4 to $5.92 1/4, up 2 3/4 cents; 14% protein, $5.97 1/4 to $6.07 1/4, up 2 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.16 1/2 to $3.23, up 1/2 to 4 cents.