Cash bids for corn higher, while wheat and soybeans mixed

Compared to May 14, cash bids for corn were higher, wheat and soybeans were mixed, while sorghum was not quoted May 15, according to the National Grain Market Summary.

After doing next to nothing for a day and a half, corn stormed higher late in the May 15 session. Winter wheat remains fundamentally bearish long-term. Slow soybean sales to China are becoming more of a market factor. While this is concerning, some analysts feel China will show up late in the marketing year and make enough purchases to catch us up.

Corn was 5 to 7 3/4 cents higher. Sorghum was not quoted. Soybeans were from 1 cent lower to 3 cents higher. Wheat was steady to 7 cents higher.

In the futures close, Kansas City July wheat was $5.08 3/4, unchanged.

Terminal wheat bids, paid for truck delivery, included Kansas City, $4.94 3/4, unchanged; Minneapolis, $6.36 1/4, up 4 3/4 cents; Portland, $5.75 to $5.91 1/2, unchanged to up 1/2 cent; St. Louis, $4.79 to $5.10, up 2 to 7 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.92 1/4, up 5 3/4 cents; Minneapolis, $3.58 1/4, up 5 3/4 cents; southern Iowa, $3.75 3/4 to $3.79 3/4, up 7 3/4 to 5 3/4 cents; Omaha, $3.77 to $3.81, up 5 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $10.03 3/4, up 1 cent; Minneapolis, $9.59 3/4, up 1 cent; southern Iowa, $9.78 3/4 to $9.85 3/4, up 3 to 2 cents; central Illinois processors, $9.93 3/4 to $10.03 3/4, up 1 to down 1 cent.

Kansas City wheat prices May 15, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.96 3/4 to $6.11 3/4, unchanged; 12% protein, $6.45 3/4 to $6.60 3/4, unchanged; 13% protein, $6.45 3/4 to $6.60 3/4, unchanged; 14% protein, $6.79 3/4 to $6.94 3/4, down 16 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $3.87 to $3.93 1/2, up 1 3/4 to 5 cents.