Wheat Market Finishes Higher

Wheat Market Finishes Higher

I'm KayDee Gilkey with the Market Line Report for August 17, 2012.?

Wheat actually lead the grain markets higher on Thursday.  The wheat complex received a boost from sagging global production numbers providing spillover support to corn in the process. From the floor of the CME Group, Scott Shellady shares his observations of Thursday’s markets.

Shellady: “Generally speaking we are in the doldrum days of August. Here we sit, we will continue to sit here we’ve got until September 12, that’s a holiday in Europe and it is gonna be last couple of days that you can get away with your family here in August for the Americans. So I’m not really expecting a lot. The headlines are going to be driven by Europe and the U.S. economy, the grains will be on the backburner for the next two weeks.”

Chicago September Wheat ended Thursday up 15 cents at 8-61 and 3/4. September corn ended the day up 3 and 3/4 cents at 7-97 and 3/4.
Portland prices for soft white wheat and club wheat were up 15 to 20 cents at mostly 8-57. Hard Red Winter Wheat with 11.5 pct protein prices were up 15 cents at mostly 9-21. DNS wheat with 14 pct protein prices were up 8 cents at mostly 9-68.

October live cattle ended Thursday down $1.10 at 125-55. September Feeder cattle were down $1.60 at 142-88. September class III milk was up 40 cents at 19-62.

I'm KayDee Gilkey with the Market Line Report on the Northwest Ag Information Network.