Mid-West Wheat Tour Shows Poor Winter Wheat Conditions

The Wheat Quality Council Winter Wheat Tour continues to see poor moisture conditions the further south they go in the Plains. From the floor of the CME Group, Frank Lesh shares his observations of Wednesday’s markets.

Lesh: “Agricultural markets — we had a mixed day here. We had July corn down 2 and half, July beans off 4 and 1/2 and July wheat up five cents. Since Wednesday was last trading day of the month — we want to take a look at where we stand for the month. And there is not as much change here with corn and wheat as you might think. Corn was up 12 and 1/4 for the month. Wheat was up 20 cents on the month.”

Chicago July Wheat ended Wednesday up a nickel at 7-21 and 1/2. July corn ended the day down 2 and 1/2 cents at 5-19.

Portland prices for soft white wheat were steady to up 5 cents at mostly 7-91 and 1/2. White club wheat prices had no price comparisons at mostly 8-51 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 10 to 15 cents at mostly 9-18 and 1/2. DNS wheat with 14 percent protein prices were up 12 and 1/2 cents at mostly 9-05 and 3/4.

June live cattle were up 17 and half cents on Wednesday at 137-20. August Feeder cattle were up 92 and half cents at 187-47 and half. June class III milk was up 36 cents at 21-22.