Wheat Markets Close Slightly Mixed on Thursday

The wheat markets closed slightly mixed on Thursday. From the floor of the CME Group, Larry Shover shares his observations of Thursday’s markets.Shover: “Thursday’s grain trade ended up pretty quiet overall. Starting with corn, corn actually opened the day in negative territory climbed its way back — down about five cents closed up about 2 cents on the day. Wheat is the outlier today, Wheat down about 3 and 1/2 cents on the day. Opened the day about 6 cents, very worried about drought conditions in Southern Plains continues to make it very, very hard for the wheat market. But right now it seems like people are waiting for the news to come out on Friday.”

Chicago July Wheat ended Thursday down 2 and 1/2 cents at 7-35 and 1/4. July corn ended the day up 2 and 1/2 cents at 5-16 and 1/2. Portland prices for soft white wheat were steady to up 2 and 1/2 cents at mostly 8-00 and 1/4. White club wheat prices were mixed down 2 and 1/2 to up 2 and1/2 cents at mostly 8-45 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were down 4 to 9 cents at mostly 9-35 and 1/2. DNS wheat with 14 percent protein prices were down 3/4 of a cent to 5 and 3/4 cents at mostly 9-35 and 3/4.June live cattle were up 35 cents on Thursday at 137.92 and a half. August Feeder cattle were down 40 cents at 190-27 and half. June class III milk was up 20 cents at 21-69.