Compared to last week, cash bids for wheat and corn were mixed, while sorghum and soybeans were higher. Reports of quality loss in storage of corn and soybeans are becoming a concern as weather during holding has not been favorable. This has end users being stricter on the quality of product they purchase and the incentives they are willing to pay for it. USDA said last week’s export sales and shipments of corn totaled 11.5 and 64.0 million bushels respectively for 2017-18, a neutral showing for the week. Total corn shipments are still 402 million bushels short of USDA’s goal with five weeks left in the season. On the other hand, soybeans are right on pace with USDA’s export estimate. Last week’s export sales and shipments of soybeans totaled 3.4 and 31.5 million bushels respectively. Last week’s export sales and shipments of 2018-19 wheat totaled 14.1 and 14.2 million bushels respectively, a neutral showing. Total 2018-19 wheat shipments were kept down 38% from a year ago, far from the 8% gain USDA is expecting by the end of the season. Wheat was from 22 1/4 cents lower to 35 1/4 cents higher. Corn was from 9 3/4 cents lower to 14 1/4 cents higher. Sorghum was 8 to 9 cents higher. Soybeans were 6 1/4 to 16 1/4 cents higher.
Source: USDA-MO Dept of Ag Market News Service, St. Joseph, Mo.