GL_GR112 Greeley, CO Fri August 16, 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 August 12, 2019, corn Production Down 4 Percent from 2018, Soybean Production Down 19 Percent from 2018. Corn production for grain is forecast at 13.9 billion bushels, down 4 percent from 2018. Based on conditions as of August 1, yields are expected to average 169.5 bushels per harvested acre, down 6.9 bushels from 2018. Area harvested for grain is forecast at 82.0 million acres, down 2 percent from the previous forecast, but up less than 1 percent from 2018. Area planted for all purposes totaled 90.0 million acres, down 2 percent from the previous estimate but up 1 percent from 2018. Soybean production for beans is forecast at 3.68 billion bushels, down 19 percent from 2018. Based on conditions as of August 1, yields are expected to average 48.5 bushels per harvested acre, down 3.1 bushels from 2018. Area harvested for beans is forecast at 75.9 million acres, down 4 percent from the previous forecast, and down 14 percent from 2018. Area planted for all purposes totaled 76.7 million acres, down 4 percent from the previous estimate, and down 14 percent from 2018. AMS cash grain bids August 15, 2019 for corn was 3.70 with a range of 3.61-3.79 and soybeans was 8.05 with a range of 7.99-8.12. 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 SEP (.13)-.40 3.56-4.09 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans SEP .10-1.38 8.76-10.04 U.S. #2 Yellow Corn SEP (.13)-.40 4.56-4.09 Region 2 Basis Basis Cash Price Non-GMO/GE Food Grade Month Range Range U.S. #1 Yellow Soybeans --- --------- --------- U.S. #2 Yellow Corn SEP (.20)-.08 3.49-3.77 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans SEP .50-1.00 9.16-9.66 U.S. #2 Yellow Corn SEP (.20)-.08 3.49-3.77 CME Yellow Soybeans Futures Closes Contract Month 08/12/19 08/13/19 08/14/19 08/15/19 08/16/19 AUG 2019 8.6150 8.7200 8.6100 ------ ------ SEP 2019 8.6675 8.7625 8.6550 8.5800 8.6575 NOV 2019 8.7925 8.8900 8.7800 8.7075 8.7850 JAN 2020 ------ ------ ------ 8.8425 8.9200 CME Yellow Corn Futures Closes Contract Month 08/12/19 08/13/19 08/14/19 08/15/19 08/16/19 SEP 2019 3.8525 3.6600 3.5900 3.6075 3.6925 DEC 2019 3.9275 3.7650 3.7025 3.7100 3.7875 MAR 2020 4.0325 3.9000 3.8325 3.8350 3.9050 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