Compared to last week, cash bids for wheat, corn, and sorghum were mixed, while soybeans were higher.  Weather is a key factor in crop condition this time of year, but the futures market doesn’t appear to be concerned with it this year as yields in recent years haven’t suffered despite weather conditions.  USDA said last week’s export sales and shipments of corn totaled 25.2 and 50.9 million bushels respectively, a neutral showing for the week that put total corn shipments at 1.884 billion bushels, down 3 percent in 2017-18 from a year ago.  Corn has seven more weeks to reach USDA’s 2.400 billion bushel estimate and will probably fall short of the goal. Last week’s export sales and shipments of soybeans totaled 9.3 and 22.2 million bushels respectively, a neutral combination that shows soybeans struggling to keep up with USDA’s new export estimate of 2.085 billion bushels.  Last week’s export sales and shipments of wheat totaled 11.0 and 16.0 million bushels respectively, more than last week’s amounts, but still a long way below USDA’s expectations for 2018-19. Wheat was mixed from 23 cents lower to 23 1/4 cents higher.  Corn was mixed from 11 1/2 cents lower to 10 1/2 cents higher.  Sorghum was mixed from 23 cents lower to 10 cents higher.  Soybeans were 6 1/4 to 17 1/4 cents higher.
Source: USDA-MO Dept of Ag Market News Service, St. Joseph, Mo.