Compared to last week, cash bids for wheat were lower, corn and soybeans were mostly higher and sorghum was mixed. Export inspections for week ending February 14th totaled 37.1 million bushels of corn, 37.9 million bushels of soybeans and 13.1 million bushels of wheat. Corn inspections are slightly above the necessary pace to meet the USDA forecast while soybeans and wheat lag behind. Ethanol production for the week ending February 15th saw a 33,000 barrel per day decrease compared to the week prior, totaling 996,000 barrels per day. Wheat was steady to 26 cents lower. Corn was one cent lower to three cents higher. Sorghum was eight cents lower to three cents higher. Soybeans were three to eight cents higher.
Source: USDA-MO Dept of Ag Market News Service, St Joseph, Mo.