Corn, sorghum, wheat cash bids mixed

Compared to last week, cash bids for corn, sorghum and wheat are mixed; soybeans are lower, according to the May 15 Weekly National Grain Market Review.

For the week ending May 7, an increase of 42.2 million bushels of corn export sales for 2019-20 were reported while an increase of 24.1 million bushels of soybean exports sales for 2019-20 were formulated. Wheat export sales showed an increase of 7.5 million bushels for 2019-20 were reported. Sorghum export sales showed net cancellations of 0.6 million bushels for 2019-20.

Ethanol production for the week ending May 8 reported an increase of 19,000 barrels per day to 0.617 million barrels a day. Ethanol stocks decreased 1.4 million barrels at 21.2 million barrels.

For the week ending May 10, corn planted is at 67 percent which is 39 percent higher than a year ago. Soybeans planted is at 38 percent which is 30 percent higher than a year ago. Sorghum is at 28 percent which is 5 percent higher than a year ago.

Corn crop production for 2019 decreased by 29.0 million bushels to 13.663 billion bushels. 2020 corn production is estimated at 15.996 billion bushels. 2020-21 corn ending stock is estimated at 3.318 billion bushels. 2020-21 planted corn acres is at 97 million acres with average yield 178.5 bushels per acre.

Wheat was 19 cents lower to 37 cents higher. Corn was 1 1/4 cents lower to 4 1/2 cents higher. Sorghum was 55 cents lower to 53 cents higher. Soybeans were 6 1/4 to 10 1/4 cents lower.

In the futures close May 19, Kansas City July wheat was $4.41 1/2, down 4 3/4 cents.

Terminal wheat bids May 19, paid for truck delivery, included Kansas City, $4.51 1/2 to $4.56 1/2, down 4 3/4 cents; Minneapolis, no quotes; Portland, $6.07 to $6.09, up 7 to 6 cents; St. Louis, $5.18, down 2 cents.

Terminal corn bids May 19, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.26 1/4 to $3.29 1/4, up 1/2 cent; Minneapolis, $3.01 1/4, up 1/2 cent; southern Iowa, $3.20 1/4 to $3.23 1/4, up 1 1/2 cents; Omaha, $2.98 to $3.08, up 2 cents.

Terminal soybean bids May 19, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.19 1/2 $8.42 1/2, down 2 1/2 cents; Minneapolis, $8.27 1/2, down 2 1/2 cents; southern Iowa, $8.35 1/2 to $8.41 1/2, down 1/2 to 4 1/2 cents; central Illinois processors, $8.39 1/2 to $8.50 1/2, down 2 1/2 to 4 1/2 cents.

Kansas City wheat prices May 19, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.26 1/2 to $5.36 1/2, down 4 3/4 cents; 12% protein, $5.56 1/2 to $5.66 1/2, down 4 3/4 cents; 13% protein, $5.76 1/2 to $5.86 1/2, down 4 3/4 cents; 14% protein, $5.91 1/2 to $6.01 1/2, down 4 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.20 1/2 to $3.25 1/4, up 2 1/2 to 3 1/2.