Corn, Wheat Cash Bids Lower

August 28th, 2017

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Category: Grains

(High Plains/Midwest Ag Journal) – Compared to yesterday, cash bids for corn and wheat were lower, sorghum was lower, and soybeans were mixed, according to the National Grain Market Summary, Aug. 22.

Corn saw some pressure Aug. 22 from better than expected crop ratings, with this years crop remaining at a 62 percent good or excellent grade. Wheat market took another loss Aug. 22 putting December Chicago wheat at a new three month low. USDA said that 58 percent of spring wheat has been harvested so far, and harvesting conditions for the next seven days look good for the northwest U.S. Soybeans gained a little support today from a higher palm and soybean oil markets.

Wheat was mostly 8 cents lower. Corn was mostly 3 cents lower. Soybeans were mostly 1 cent higher. Sorghum was 5 cents lower.

In the futures close, Kansas City September wheat was $3.99, down 8 3/4 cents.

Terminal wheat bids, paid for truck delivery, included Kansas City, $3.49, down 8 3/4 cents; Minneapolis, $6.46, down 14 cents; Portland, $4.77 1/4 to $5.25, down 7 1/4 cents to unchanged; St. Louis, $4.01 to $4.03, no comparison.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $3.31, down 3 cents; Minneapolis, $3.01, down 3 cents; southern Iowa, $3.25 to $3.26, down 3 to 4 cents; Omaha, $3.17 to $3.22, down 3 cents.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $9.22 1/2, up 1 1/4 cents; Minneapolis, $9.02 1/2, up 1 1/4 cents; southern Iowa, $9.25 1/2 to $9.34 1/2, down 1 3/4 cents; central Illinois processors, $9.22 1/2 to $9.37 1/2, up 1 1/4 to down 3/4 cents.

Kansas City wheat prices Aug. 22, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $4.01 to $5.09, down 8 3/4 cents; 12% protein, $5.04 to $5.99, down 3 3/4 to 8 3/4 cents; 13% protein, $6.04 to $6.19, down 8 3/4 cents; 14% protein, $6.14 to $6.29, down 8 3/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was unavailable.

 

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