Compared to last week, cash bids for wheat, corn, sorghum and soybeans were lower. Ethanol production for week ending April 19th totaled 1.048 million barrels per day, an increase of 32,000 barrels when compared to the week prior. Ethanol stocks were increased by 71,000 barrels to 22.7 mb. Monday’s planting progress report for w/e 4/21/2019 revealed that planting pace is slightly below the average at this point in time. Farmers have been in the fields in many states this week and the corn planted percentage number next week is expected to move up more than three percent like it did from the week prior. Cash soybean bids at country elevators in many states now have a seven figure as the front number and commodity prices are trying to get a foot hold after losses the last couple of weeks. Winter wheat reported at 92 percent Fair to Excellent compared to 91 percent the previous week and 63 percent the previous year.
Export sales for week ending April 18 totaled 30.7 million bushels of corn; 21.9 million bushels of soybeans and 15.6 million bushels of wheat. Wheat was steady to 37 1/2 cents lower. Corn was four cents to 17 cents lower. Sorghum was 19 to 20 cents lower. Soybeans were 11 1/4 cents to 21 1/4 cents lower.
Source: USDA-MO Dept of Ag Market News Service, St Joseph, Mo.