Soybeans had sharp gains early on helping to rally corn and wheat higher. However, wheat saw some pressure as the Plains and Midwest saw moisture. Soybeans saw some declines as basis at the gulf were lower due to weak demand. The wheat export sales report was bearish coming in at 233,700 tonnes for the current marketing year. Corn export sales were also bearish netting only 12,600 tonnes for the current marketing year with a cancellation of 11,600 for the next year for a total of 1,000 tonnes.
Soybeans were reported slightly below expectations coming in at 321,800 tonnes for the current marketing year and 85,000 for the next year for a total of 406,800. Net meal sales came in at 118,200 tonnes for the current marketing year. Oil sales came in at 10,900 tonnes.
Wheat was 20 cents lower to 5 cents higher. Yellow Corn was mostly 8-16 cents higher. Sorghum was 9 cents lower to 27 cents higher. Soybeans were 4 cents lower to 3 cents higher.
WHEAT
• Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 4 3/4 lower to 3 1/4 cents higher from 8.61 1/2-9.14 1/2 per bushel.
• Kansas City US No 2 Soft Red winter rail bid no quote per bushel.
• St. Louis truck US No 2 Soft Red Winter terminal bid was 4 cent lower at 7.57 per bushel.
• Minneapolis and Duluth US No 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 7 1/4 to 20 1/4 cents lower at 9.14 1/4-9.29 1/4 per bushel.
• Portland US Soft White wheat rail was 1 cent lower to 5 cents higher from 9.29 1/2-8.45 per bushel.
CORN
• Kansas City US No 2 rail White Corn was 10 to 16 cents lower from 7.63-7.75 per bushel.
• Kansas City US No 2 truck Yellow Corn was 16 to 21 cents higher at 7.37 per bushel.
• Omaha US No 2 truck Yellow Corn was 10 cents higher at 7.27 per bushel.
• Chicago US No 2 Yellow Corn was 8 1/2 to 9 1/2 cents higher from 7.14 3/4-7.16 3/4 per bushel.
• Toledo US No 2 rail Yellow corn was 13 1/2 to 14 1/2 cents higher from 7.08 3/4-7.12 3/4 per bushel.
• Minneapolis US No 2 Yellow corn rail was 14 1/2 cents higher at 6.78 3/4 per bushel.
OATS AND BARLEY
• US 2 or Better oats, rail bid to arrive at Minneapolis 20 day was 21 3/4 cents higher from 3.64 1/2-3.84 1/2 per bushel.
• US No 3 or better rail malting Barley, 70 percent or better plump out of Minneapolis was 5 cents lower at 7.10 per bushel.
• Portland US 2 Barley, unit trains and Barges- export was not available per cwt.
SORGHUM
• US No 2 yellow truck, Kansas City was 27 cents higher at 12.48 per cwt.
• Texas High Plains US No 2 yellow sorghum (prices paid or bid to the farmer, fob elevator) was 9 cents lower to 10 cents higher from 11.77-12.48 per cwt.
OILSEEDS
• Minneapolis Yellow truck soybeans was at 13.79 3/4 per bushel.
• Illinois Processors US No 1 Yellow truck soybeans were 4 3/4 cents lower to 3 1/4 cents higher from 14.14 3/4-14.19 3/4 per bushel.
• Kansas City US No 2 Yellow truck soybeans were 7 cents lower at 14.20 per bushel.
• Central Illinois 48 percent Soybean meal, processor rail bid was steady from 420.60-424.60 per ton.
• Central Illinois Crude Soybean oil processor bid was 36 to 46 points lower from 47.25-48.00 cents per pound.
