Corn, sorghum, soybean cash bids lower
Compared to Oct. 15, cash bids for corn, sorghum, and soybeans were lower, while wheat was mixed, according to the National Grain Market Summary, Oct. 16.
The USDA Crop Progress report shows 39 percent of corn harvested for the week ending Oct. 14, which is actually 4 percent ahead the five year average and 12 percent ahead of last year. Crop progress shows 38 percent of soybeans harvested, down 9 percent from this time last year and down 15 percent from the five year average. Crop progress also shows 65 percent of winter wheat planted so far, down 2 percent from the five year average, but up 7 percent from last year. Concerns remain for soybean quality due to moisture with reports from producers of pods opening up and dropping beans.
Wheat was from 4 1/4 cents lower to 2 cents higher. Corn was 2 to 3 cents lower. Soybeans were 2 3/4 to 6 3/4 cents lower. Sorghum was 5 1/2 cents lower.
In the futures close, Kansas City December wheat was $5.28, down 3 3/4 cents.
Terminal wheat bids, paid for truck delivery, included Kansas City, $5.28, down 3 3/4 cents; Minneapolis, $5.86 1/4, down 4 1/4 cents; Portland, $6 to $6.22, unchanged to up 2 cents; St. Louis, $4.84 to $5.23, down 2 cents.
Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.52 1/4, down 3 cents; Minneapolis, $3.27 1/4, down 3 cents; southern Iowa, $3.30 1/4 to $3.35 1/4, down 3 to 2 cents; Omaha, $3.30 to $3.35, down 3 cents.
Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.49 3/4, down 6 3/4 cents; Minneapolis, $7.99 3/4, down 6 3/4 cents; southern Iowa, $8.04 3/4 to $8.13 3/4, down 5 3/4 to 2 3/4 cents; central Illinois processors, $8.32 3/4 to $8.49 3/4, down 6 3/4 to 3 3/4 cents.
Kansas City wheat prices Oct. 16, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $6.13 to $6.28, down 3 3/4 cents; 12 percent protein, $6.19 to $6.34, down 3 3/4 cents; 13 percent protein, $6.33 to $6.48, down 3 3/4 cents; 14 percent protein, $6.43 to $6.58, down 3 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was unavailable.