Grain Markets Mixed

Chicago and Kansas City wheat traded higher Thursday mostly following corn to the upside on poor planting conditions in the western plains. From the floor of the CME Group, Joe Vaclavik shares his observations of Thursday’s markets.

Vaclavik: “Grain markets were mixed on Thursday. We had the corn market higher, wheat market higher and soybeans mostly lower. We’ve had some crazy weather this week. We found out on Sunday night in these weather forecasts that we were going to see major, major planting delays across the corn belt. We knew there was a snow system coming we know there was a lot of rain and cooler temperatures were coming. As a result the corn market tacked on some real big gains early in the week.”

Chicago July Wheat ended Thursday up 7 and 1/2 cents at 7-28 and 1/2. July corn ended the day up 15 and 1/4 cents at 6-62.??Portland prices for soft white wheat and club wheat were were steady to up 2 and 1/2 cents at mostly 7-76 and 3/4. Hard Red Winter Wheat with 11.5 pct protein prices were up 3 and 1/2 to 8 and 1/2 cents at mostly 9-22 and 3/4. DNS wheat with 14 pct protein prices were up 9 and 1/2 cents at 9-48 and 1/4. ??June live cattle were up Thursday $1.17 and half at 123-65. August Feeder cattle were up 92 and half cents at 149-65. June class III milk was down 14 cents at 19-31.