GL_GR112 Greeley, CO Fri September 13, 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 September 12, 2019, corn production for grain is forecast at 13.8 billion bushels, down 1 percent from the previous forecast and down 4 percent from last year. Based on conditions as of September 1, yields are expected to average 168.2 bushels per harvested acre, down 1.3 bushels from the previous forecast and down 8.2 bushels from 2018. Area harvested for grain is forecast at 82.0 million acres, unchanged from the previous forecast but up less than 1 percent from 2018. Soybean production for beans is forecast at 3.63 billion bushels, down 1 percent from the previous forecast and down 20 percent from last year. Based on conditions as of September 1, yields are expected to average 47.9 bushels per harvested acre, down 0.6 bushel from the previous forecast and down 3.7 bushels from 2018. Area harvested for beans is forecast at 75.9 million acres, unchanged from the previous forecast but down 14 percent from 2018. AMS cash grain bids September 12, 2019 for corn was 3.68 with a range of 3.60-3.77 and soybeans was 8.29 with a range of 8.24-8.35. 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 (.07)-.40 3.49-3.96 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans SEP .15-1.38 9.00-10.23 U.S. #2 Yellow Corn SEP (.07)-.40 3.49-3.96 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)-.10 3.36-3.66 Basis Basis Cash Price Non-GMO/GE Feed Grade Month Range Range U.S. #1 Yellow Soybeans SEP .20-.90 9.05-9.75 U.S. #2 Yellow Corn SEP (.20)-.10 3.36-3.66 CME Yellow Soybeans Futures Closes Contract Month 09/09/19 09/10/19 09/11/19 09/12/19 09/13/19 SEP 2019 8.4500 8.5925 8.5400 8.8300 8.8475 NOV 2019 8.5775 8.7200 8.6650 8.9550 8.9875 JAN 2020 8.7200 8.8575 8.8050 9.0900 9.1225 CME Yellow Corn Futures Closes Contract Month 09/09/19 09/10/19 09/11/19 09/12/19 09/13/19 SEP 2019 3.4075 3.4850 3.4825 3.5450 3.5550 DEC 2019 3.5425 3.6150 3.6000 3.6725 3.6875 MAR 2020 3.6725 3.7450 3.7225 3.7975 3.8150 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