GL_GR112 Greeley, CO Fri October 11, 2019 USDA- CO Dept of Ag Market News National Weekly Non-GMO/GE Grain Report Compared to last week: Demand is very good with moderate trade. Grower bids for corn and soybeans were steady. According to the NASS Crop Production report October 10, 2019, Corn production for grain is forecast at 13.8 billion bushels, down less than 1 percent from the previous forecast and down 4 percent from last year. Basedon conditions as of October 1, yields are expected to average 168.4 bushels per harvested acre, up 0.2 bushel from the previous forecast but down 8.0 bushels from 2018. Area harvested for grain is forecast at 81.8 million acres, down less than 1 percent from the previous forecast but up slightly from 2018. Acreage updates were made in several States based on a thorough review of all available data. Soybean production for beans is forecast at 3.55 billion bushels, down 2 percent from the previous forecast and down 20 percent from last year. Based on conditions as of October 1, yields are expected to average 46.9 bushels per acre, down 1.0 bushel from the previous forecast and down 3.7 bushels from 2018. Area harvested for beans in the United States is forecast at 75.6 million acres, down less than 1 percent from the previous forecast and down 14 percent from 2018. Acreage updates were made in several States based on a thorough review of all available data. AMS cash grain bids October 10, 2019 for corn was 3.91 with a range of 3.82-4.00 and soybeans was 8.63 with a range of 8.57-8.68. Grower Bids: bids reported thresher run in dollars per bushel and delivered elevator/warehouse in car lot or truck lots. Basis month is the futures contract delivery month the commodity is being priced against. Basis reflects the relationship between the cash market and the corresponding commodity futures basis month. Cash bid prices are basis of the futures market close on the issue date of this report. Region 1 Basis Basis Cash Price Non-GMO/GE Food Grade Month Range Range U.S. #1 Yellow Soybeans --- -------- --------- U.S. #2 Yellow Corn DEC .00-.35 3.98-4.33 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans NOV .55-1.35 9.91-10.71 U.S. #2 Yellow Corn DEC .00-.35 3.98-4.33 Region 2 Basis Basis Cash Price Non-GMO/GE Food Grade Month Range Range U.S. #1 Yellow Soybeans --- --------- --------- U.S. #2 Yellow Corn DEC (.15)-.05 3.83-4.03 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans NOV .20-1.00 9.56-10.36 U.S. #2 Yellow Corn DEC (.15)-.05 3.83-4.03 CME Yellow Soybeans Futures Closes Contract Month 10/07/19 10/08/19 10/09/19 10/10/19 10/11/19 NOV 2019 9.1525 9.2050 9.2375 9.2350 9.3600 JAN 2020 9.2950 9.3525 9.3800 9.3750 9.5050 MAR 2020 9.4050 9.4700 9.4975 9.4950 9.6100 CME Yellow Corn Futures Closes Contract Month 10/07/19 10/08/19 10/09/19 10/10/19 10/11/19 DEC 2019 3.8700 3.9575 3.9425 3.8025 3.9775 MAR 2020 3.9900 4.0650 4.0550 3.9150 4.0775 MAY 2020 4.0450 4.1125 4.1075 3.9750 4.1275 Region 1: Wisconsin, Illinois, Michigan, Indiana, Ohio, Kentucky, Tennessee, Mississippi, Alabama, Georgia, Florida, South Carolina, North Carolina, Virginia, West Virginia, Maryland, Delaware, Pennsylvania, New York, New Jersey, Connecticut, Rhode Island, Massachusetts, New Hampshire, Vermont and Maine. Region 2: Minnesota, Iowa, Missouri, Arkansas, Louisiana, Texas, Oklahoma, Kansas, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Washington, Oregon and California. Source: USDA- CO Dept of Ag Market News Service, Greeley, CO Jonathan Gittlein, Market Reporter, (970)353-9750 24 Hour Market Report (970)353-8031 www.ams.usda.gov/mnreports/GL_LS335.txt 1400 jpg