GL_GR112 Greeley, CO Fri January 17, 2020 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 NASS Crop Production Annual January 10, 2020, corn for grain production in 2019 was estimated at 13.7 billion bushels, down 5 percent from the revised 2018 estimate. The average yield in the United States was estimated at 168.0 bushels per acre, 8.4 bushels below the 2018 yield of 176.4 bushels per acre. Area harvested for grain was estimated at 81.5 million acres, up less than 1 percent from the revised 2018 estimate. Soybean production in 2019 totaled 3.56 billion bushels, down 20 percent from 2018. The average yield per acre was estimated at 47.4 bushels, down 3.2 bushels from 2018. Harvested area was down 14 percent from 2018 to 75.0 million acres. AMS cash grain bids January 16, 2020 for corn was 3.93 with a range of 3.87-3.99 and soybeans was 9.07 with a range of 9.04-9.11. 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 MAR .14-.38 4.03-4.27 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans MAR .70-1.64 10.00-10.94 U.S. #2 Yellow Corn MAR .14-.38 4.03-4.27 Region 2 Basis Basis Cash Price Non-GMO/GE Food Grade Month Range Range U.S. #1 Yellow Soybeans --- --------- --------- U.S. #2 Yellow Corn MAR (.05)-.10 3.84-3.99 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans MAR .50-1.34 9.80-10.64 U.S. #2 Yellow Corn MAR (.05)-.10 3.84-3.99 CME Yellow Soybeans Futures Closes Contract Month 01/13/20 01/14/20 01/15/20 01/16/20 01/17/20 JAN 2020 9.2925 9.2850 MAR 2020 9.4225 9.4225 9.2875 9.2400 9.2975 MAY 2020 9.5550 9.5550 9.4200 9.3725 9.4300 JLY 2020 9.5425 9.5000 9.5550 CME Yellow Corn Futures Closes Contract Month 01/13/20 01/14/20 01/15/20 01/16/20 01/17/20 MAR 2020 3.8950 3.8900 3.8750 3.7550 3.8925 MAY 2020 3.9625 3.9600 3.9400 3.8250 3.9525 JLY 2020 4.0275 4.0225 4.0050 3.8900 4.0100 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