Wheat cash bids mixed
Compared to March 19, cash bids for wheat were mixed, corn and sorghum were lower, while soybeans were higher, according to the National Grain Market Summary, March 20.
Row crops in Argentina continue to suffer with another mostly dry forecast for this week. Here in the U.S., Texas has started planting corn, and it looks like the eastern Midwest may see some fieldwork delays due to wet conditions this spring. With Brazil taking in a near-record soybean harvest and the U.S. getting ready to possibly plant 90 million acres (ma) or more, more liquidation may be coming. Not factoring in Kansas’ most recent rain, the state NASS offices of Kansas, Oklahoma, and Texas gave their winter wheat crops poor-to-very poor ratings of 55, 60, and 66 percent respectively, late March 19—three states that represent roughly 40 percent of the U.S. winter wheat crop.
Corn was steady to 2 1/2 cents lower. Sorghum was 1 cent lower. Soybeans were 4 3/4 to 7 3/4 cents higher. Wheat was from 3 1/4 cents lower to 3 cents higher.
In the futures close, Kansas City May wheat was $4.70, down 1/4 cent.
Terminal wheat bids, paid for truck delivery, included Kansas City, $4.60, down 1/4 cent; Minneapolis, $6.08 1/4, down 3 1/4 cents; Portland, $5.40 to $5.62, unchanged; St. Louis, $4.43 to $4.65, up 3 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.56 1/2 to $4.36, down 1/2 cent; Minneapolis, unavailable; southern Iowa, $3.38 1/2 to $3.46 1/2, down 2 1/2 to 1 1/2 cents; Omaha, $3.45 to $3.48, unchanged.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.83 1/4 to $9.88 1/4, up 5 3/4 cents; Minneapolis, unavailable; southern Iowa, $9.71 1/4 to $9.77 1/4, up 6 3/4 to 4 3/4 cents; central Illinois processors, $9.92 1/4 to $10.06 1/4, up 7 3/4 to 5 3/4 cents.
Kansas City wheat prices March 20, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.40 to $5.55, down 1/4 cent; 12% protein, $5.85 to $6, down 1/4 cent; 13% protein, $6.25 to $6.40, down 1/4 cent; 14% protein, $6.25 to $6.40, down 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was unavailable.