Compared to last week, cash bids for corn and soybeans were mixed, while sorghum and wheat were mostly higher. Even though we have seen tariffs placed on U.S. exports in recent weeks, we continue to see elevated demand for our offerings in the global market, especially on soybeans. Soybean sales for 2019/20 have already topped 300 million bu, over twice the volume that was sold that far ahead a year ago at this time. China has even booked some soybeans for that year, proving they will need our offerings even with tariffs in place. Export sales totals for the week ending August 2nd were favorable for the market. Corn sales were split with 21.8 million bu old crop and 25.9 million bu new crop. Soybean bookings came in at 15.5 million bu old crop and 19.6 million bu new crop. Wheat sales reached 11.6 million bu. These were all at the top end or above trade expectations. Wheat was steady to 32 cents higher. Corn was mixed from 7 1/2 cents lower to 2 1/2 cents higher. Sorghum was 4 to 6 cents higher. Soybeans were mixed from 3 1/2 cents lower to 9 1/2 cents higher.
Source: USDA-MO Dept of Ag Market News Service, St. Joseph, Mo.