Compared to last week, cash bids for wheat was mostly lower; corn, sorghum and soybeans were lower. Ethanol production for week ending May 3rd totaled 1.036 million barrels per day, a 12,000 barrel increase when compared to the week prior. Ethanol stocks were at 22.47 mb decreased by 227,000 barrels this week. Monday’s planting progress report for w/e 5/5/2019 revealed that planting pace is 13 percent behind a year ago and half of the five year average. Rains throughout the Midwest this week and lower than normal temperatures left many farmers content with leaving the bag unopened yet again this week. for a while yet. Not one single state was above the five year average on percent completed. Illinois is ready to make some noise whenever conditions get better as they are 56 percent behind the five year average. Flooding in the Missouri, Illinois and Mississippi River basins have left the St. Louis harbor shut to traffic starting late last week, gnarling barge traffic to the North. Export sales for week ending May 2 totaled 11.3 million bushels of corn; 5.5 million bushels of soybeans and 3.3 million bushels of wheat. Wheat was 23 1/2 cents lower to 15 cents higher. Corn was eight cents to 19 cents lower. Sorghum was six cents to 36 cents higher. Soybeans were 15 1/2 cents to 30 1/2 cents lower.
Source: USDA-MO Dept of Ag Market News Service, St Joseph, Mo.