Cash bids mostly lower
Compared to last week, cash bids for wheat was mostly lower, with soft white wheat flat; corn, sorghum and soybeans were lower, according to the Weekly National Grain Market Review, Jan. 31.
For the week ending Jan. 23, an increase of 48.6 million bushels of corn export sales for 2019-20 were reported while an increase of 17.3 million bushels of soybean exports sales for 2019-20 were formulated. Wheat export sales showed an increase of 23.7 million bushels for 2019-20 were reported.
Ethanol production for the week ending Jan. 17, reported a decrease of 20,000 barrels per day to 1.029 million barrels a day. Ethanol stocks increased .213 million barrels at 24.244 million barrels.
Soft white wheat steady, while other types were 10 3/4 cents to 26 cents lower. Corn was 9 cents to 14 1/4 cents lower. Sorghum was 25 to 27 cents higher. Soybeans were 28 1/4 cents to 36 1/4 cents lower.
In the futures close Feb. 3, Kansas City March wheat was $4.66 3/4, up 1 1/4 cents.
Terminal wheat bids Feb. 3, paid for truck delivery, included Kansas City, $4.61 3/4 to $4.76 3/4, up 6 1/4 to 1 1/4 cents; Minneapolis, no quote; Portland, $6.25 to $6.30, up 5 cents to unchanged; St. Louis, $6.20, up 2 cents.
Terminal corn bids Feb. 3, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.88 3/4 to $3.90 3/4, down 2 1/2 cents; Minneapolis, no bids; southern Iowa, no bids; Omaha, $3.75 to $3.82, down 2 cents.
Terminal soybean bids Feb. 3, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.50 to $8.82, up 4 1/2 to 9 1/2 cents; Minneapolis, no bids; southern Iowa, no bids; central Illinois processors, $8.77 to $8.89, up 4 1/2 cents.
Kansas City wheat prices Feb. 3, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.46 3/4 to $5.56 3/4, up 1 1/4 cents; 12% protein, $5.86 3/4 to $5.96 3/4, up 1 1/4 cents; 13% protein, $6.51 3/4 to $6.61 3/4, up 1 1/4 cents; 14% protein, $6.76 3/4 to $6.86 3/4, up 1 1/4 cents. U.S. No. 2 soft red winter wheat, unavailable. U.S. No. 2 white corn was $4.01 1/2 to $4.07, down 2 1/4 to 3/4 cents.