Wheat Market Finishes Higher

Wheat Market Finishes Higher

I’m KayDee Gilkey with the Market Line Report for Oct. 19, 2012. ?Wheat rode the coattails of strong gains in the soybean market today. Also supportive was the long-term weather outlook from the government, which calls for above-normal temps and below-normal rainfall for much of the Plains through January.From the floor of the CME Group, Joe Vaclavik shares his observations of Thursday’s markets.

Vaclavik: “Sharply higher trade in the grains here today on Thursday. We had corn up about 15 cents in the nearby contracts. Beans up about 35 and wheat up anywhere from 10 to 12. Not really a ton of news out here today. We had export sales out here this morning. Wheat exports at 410 above expectations, pretty solid sales there. ”

Chicago December Wheat ended Thursday up 12 and 1/4 cents at 8-68 and 1/2. December corn ended the day up 15 and 1/4 cents at 7-60 and 3/4.

Portland prices for soft white wheat and club wheat were up 18 and 1/2 to 18 and 3/4 cents at mostly 8-86 and 3/4. Hard Red Winter Wheat with 11.5 pct protein prices were up 10 and 3/4 cents at mostly 9-73 and 3/4. DNS wheat with 14 pct protein prices were up 4 and 1/2 to 15 and 1/2 cents at mostly 10-22.
October live cattle were up Thursday a dime at 125-23. October Feeder cattle were down 10 cents at 146-85. October class III milk was down a penny at 21-04.

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