Wheat Lower on the Day
The wheat markets ended mixed on Thursday. From the floor of the CME Group Larry Shover shares his observations of Thursday's markets.
Shover: "Wheat down about 2 cents on the day after a pretty severely mixed day yesterday. We know that yesterday Ag Canada came out and projected that harvest was down about 6 percent on the year. Texas also came out and reporting that crop conditions were down 1 percent week on week that goes to about 17 percent good to excellent. China still offering we're seeing about 413,000 metric tons being sold in the market, surprising some traders."
Chicago March Wheat ended Thursday down 4 cents at 6-16 and 1/4. March corn ended the day up 2 cents at 4-55 and 3/4.
Portland prices for soft white wheat were unchanged to up 13 and 1/2 cents at mostly 7-36 and 1/4. White club wheat prices were unchanged to up 13 and 1/2 cents at mostly 7-88 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up 2 cents at mostly 8-51 and 3/4. DNS wheat with 14 percent protein prices were up a penny at 8-57 and 1/2.
April live cattle were up a nickel Thursday at 141-87 and half. March Feeder cattle were down a nickel at 171.12 and half. March class III milk was up 16 cents at 21-49.