Compared to last week, cash bids for corn was mixed, while wheat, sorghum and soybeans were lower. Ethanol production for week ending April 12th totaled 1.016 million barrels per day, an inccrease compared to the week prior. Ethanol stocks were decreased by 517,000 barrels to 22.7 mb. Monday’s planting progress report revealed that planting pace is only slightly below the average at this point in time. However, fields that are saturated and have been slated for corn production are staring at weather forecasts that are unfriendly at this time. When the weather does cooperate for fieldwork, producers have proven over the years that they can be very efficient and get acres planted in a timely manner. Export sales for week ending April 11 totaled 37.3 million bushels of corn; 14 million bushels of soybeans and 11.7 million bushels of wheat. Wheat was five cents to 20 cents lower. Corn was 1 1/2 cents lower to 4 1/2 cents higher. Sorghum was two to four cents lower. Soybeans were 12 3/4 cents to 19 3/4 cents lower.
Source: USDA-MO Dept of Ag Market News Service, St. Joseph, Mo.