Compared to last week, cash bids for corn were higher, wheat, soybeans, and sorghum were mixed.  The next round of USDA WASDE reports were released Thursday and were the main fuel for yesterday’s trading.  USDA reduced its estimates of US ending corn stocks from 2.477 billion to 2.352 billion bushels due to a boost in export estimates, lending support to the corn market.  Despite an increase in USDA’s US soybean ending stocks from 470 million bushels to 530 million bushels, soybeans managed to trade higher yesterday possibly from increased concerns of dry weather in South America.  US wheat ending stocks were also increased from 989 million to 1.009 billion bushels from a 25 million bushel decrease in export estimates.  Wheat was mixed from 3 cents lower to 18 1/2 cents higher.  Corn was 4 to 38 cents higher. Sorghum was mixed from 46 cents lower to 8 cents higher.  Soybeans were mixed from 11 1/4 cents lower to 2 3/4 cents higher.
Source: USDA-MO Dept of Ag Market News Service, St Joseph, MO