Compared to last week, cash bids for wheat were mostly lower, while corn, sorghum, and soybeans were higher. Widespread rainfall has been the main concern this week as its impact on harvest is being felt already while its potential impact on crop progress and condition is being taken into consideration. Trade disputes continue to be a market factor as more potential tariffs between the U.S. and China are being discussed. The weekly export sales report showed the 2017/18 row crop marketing year ended with 30,100 metric tons of corn sold and 600 metric tons of soybeans sold in the week leading up to August 30. The new crop 2018/19 sales data was much better for corn with 1,032,900 metric tons of sales while neutral for soybeans with 672,600 metric tons of sales. The weekly export sales report was bearish for wheat, with only 379,800 metric tons of sales documented. Wheat was from 20 1/4 cents lower to 3 cents higher. Corn was 10 1/4 to 25 1/4 cents higher. Sorghum was 19 to 80 cents higher. Soybeans were 7 3/4 to 17 3/4 cents higher.
Source: USDA-MO Dept of Ag Market News Service, St. Joseph, Mo.