Compared to last week, cash bids for wheat were mostly higher; corn, sorghum and soybeans were sharply higher, according to the Weekly National Grain Market Review, May 31.

Ethanol production for week ending May 24 totaled 1.057 million barrels per day, a 14,000 barrel decrease when compared to the week prior. Ethanol stocks were at 22.62 million bushels this week, a decrease of 0.78 million bushels. The planting progress report for the week ending May 26 revealed that planting pace for corn is now 32 percent behind a year ago and the 5 year average. Torrential weather events in the Midwest has been seen on numerous news stories nationwide this week. Outbreaks of over 500 tornadoes nationwide in the month of May have been noted. Flooding in the Missouri, Illinois and Mississippi River Basins will no doubt affect farmland throughout this growing season. Soybean acres planted are 45 percent behind a year ago and 37 percent behind the 5 year average.

White winter wheat was steady while hard red, soft red dark northern spring wheat were 24 1/4 to 58 3/4 cents higher. Corn was 26 1/2 to 50 1/2 cents higher. Sorghum was 82 cents to 83 cents higher. Soybeans were 62 1/2 to 77 1/2 cents higher.

In the futures close, Kansas City July wheat was $7.26, up 39 cents.

Terminal wheat bids June 4, paid for truck delivery, included Kansas City, $4.58 1/2 to $4.95 1/2, down 18 1/4 cents; Minneapolis, no quote; Portland, $5.75 to $6.15, unchanged; St. Louis, $5.35 to $5.40, down 13 cents.

Terminal corn bids, U.S. No. 2 yellow, price paid for truck deliver, included: Kansas City, $4.15 1/4 to $4.25 1/4, up 1 cent; Minneapolis, no bids; southern Iowa, $3.83 1/4 to $3.98 1/4, up 1 cent to unchanged; Omaha, $4.08, up 4 to 1 cent.

Terminal soybean bids, U.S. No. 1, price paid for truck delivery, included: Kansas City, $8.26 3/4 to $8.46 3/4, up 2 3/4 cents; Minneapolis, no bids; southern Iowa, $8.24 3/4 to $8.47 3/4, up 2 3/4 cents; central Illinois processors, $8.51 3/4 to $8.71 3/4, up 2 3/4 to 12 3/4 cents.

Kansas City wheat prices June 4, spot, fob track, included: No. 1 hard red winter wheat, ordinary protein, $5.91 1/2 to $6.01 1/2, down 15 1/4 cents; 12% protein, $6.28 1/2 to $6.43 1/2, down 18 1/4 cents; 13% protein, $6.33 1/2 to $6.43 1/2, down 18 1/4 cents; 14% protein, $6.36 1/2 to $6.46 1/2, down 18 1/4 cents. U.S. No. 2 soft red winter wheat was unavailable. U.S. No. 2 white corn was $4.32 1/4 to $4.47, up 3 to 5 1/4 cents.

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