Compared to last week, cash bids for wheat and corn were mixed, while sorghum was higher, and soybeans were lower. USDA said last week’s export sales and shipments of corn totaled 35.6 million and 37.5 million bushels, respectively, a neutral showing that has total shipments up 79 percent from a year ago and total export commitments up 16 percent. Last week’s export sales and shipments of soybeans totaled 29.1 million and 42.1 million bushels, respectively, still a bearish pace despite China’s purchase earlier this week. Last week’s export sales and shipments of wheat totaled 27.7 million and 18.0 million bushels, respectively. After USDA reduced the export estimate for wheat by 25 million to 1.0 billion bushels on Tuesday, total wheat shipments are now down 14 percent from a year ago and total export commitments are down 10 percent, slowly closing the gap with USDA’s higher estimated pace. Wheat was from five cents lower to 26 cents higher. Corn was from 6 1/2 cents lower to 4 1/2 cents higher. Sorghum was two to three cents higher. Soybeans were 2 1/2 to 10 1/2 cents lower.
Source: USDA-MO Dept of Ag Market News Service, St Joseph, Mo.