Compared to last week, cash bids for wheat, corn, sorghum, and soybeans were higher. Most of the Midwest had a favorable week for harvest and planting, although the eastern half of the Midwest and parts of the Southeastern U.S. struggled with moisture the second half of the week. The forecast for the upcoming week looks bleak as more rain is expected for the central and eastern Corn Belt. USDA said export sales and shipments of corn totaled 15.5 million and 29.7 million bushels last week, a neutral showing. Corn shipments are up 76 percent in 2018-19. Last week’s export sales and shipments of soybeans totaled 14.5 million and 48.3 million bushels, respectively, another bearish showing that has total soybean shipments down 39 percent in 2018-19 from a year ago. Last week’s export sales of wheat totaled 21.4 million bushels, a higher amount than we have seen lately. Total wheat exports are down 21 percent in 2018-19 from last year. Wheat was 5 to 46 cents higher. Corn was 4 to 20 3/4 cents higher. Sorghum was 10 to 11 cents higher. Soybeans were 22 1/4 to 38 1/4 cents higher.
Source: USDA-MO Dept of Ag Market News Service, St. Joseph, Mo.