GL_GR112 Greeley, CO Fri November 08, 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 November 8, 2019, corn Production Down 1 Percent from October Forecast and Soybean Production down Slightly. Corn production for grain is forecast at 13.7 billion bushels, down 1 percent from the previous forecast and down 5 percent from last year. Based on conditions as of November 1, yields are expected to average 167.0 bushels per harvested acre, down 1.4 bushels from the previous forecast and down 9.4 bushels from 2018. Area harvested for grain is forecast at 81.8 million acres, unchanged from the previous forecast but up slightly from 2018. Soybean production for beans is forecast at 3.55 billion bushels, down slightly from the previous forecast and down 20 percent from last year. Based on conditions as of November 1, yields are expected to average 46.9 bushels per acre, unchanged from the previous forecast but down 3.7 bushels from 2018. Area harvested for beans in the United States is forecast at 75.6 million acres, unchanged from the previous forecast but down 14 percent from 2018. According to the NASS Crop Progress report November 4, 2019, corn harvested in the top 18 states was 52% harvested with the five year average at 75% and soybeans harvested in the top 18 states was 75% harvested with the fiver year average at 87%. AMS cash grain bids November 07, 2019 for corn was 3.79 with a range of 3.68-3.90 and soybeans was 8.99 with a range of 8.90-9.07. 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 .11-.36 3.88-4.13 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans JAN .60-1.45 9.91-10.76 U.S. #2 Yellow Corn DEC .11-.36 3.88-4.13 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 (.12)-.05 3.65-3.82 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans JAN .07-1.35 9.38-10.66 U.S. #2 Yellow Corn DEC (.12)-.05 3.65-3.82 CME Yellow Soybeans Futures Closes Contract Month 11/04/19 11/05/19 11/06/19 11/07/19 11/08/19 NOV 2019 9.2575 9.2175 9.1500 9.2500 9.1950 JAN 2020 9.3800 9.3425 9.2750 9.3650 9.3100 MAR 2020 9.5125 9.4725 9.4075 9.4875 9.4400 CME Yellow Corn Futures Closes Contract Month 11/04/19 11/05/19 11/06/19 11/07/19 11/08/19 DEC 2019 3.8325 3.8175 3.7875 3.7525 3.7725 MAR 2020 3.9350 3.9175 3.8775 3.8375 3.8650 MAY 2020 4.0050 3.9850 3.9475 3.9100 3.9350 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