Quiet Day in Grain Market But Busy in Cattle Market on Thursday

Thursday was quiet in the grains markets but a busy one for cattle. From the floor of the CME Group, Larry Shover shares his observations of Thursday’s markets.
Shover: “Thursday’s livestock trade at the CME Group was pretty busy today. We have to start with cattle — it is a one way freight train higher since the very beginning of the month. Wheat has been drifting — drifting in the wind up about 3 on the day. Just like soybeans flirting with the highs that we saw on Monday. Exports sales as coming form USDA are right in line. Analysts are saying that right now Canada is planting a lot less wheat and ore canola.”
Chicago September Wheat ended Thursday up slightly at a half of a cent at 5-84 and 3/4. September corn ended the day up 3 and 1/4 cents at 4-39 and 3/4.
Portland prices for soft white wheat were up 6 and 3/4 cents at mostly 6-99 and 3/4. White club wheat prices were steady to up 6 and 3/4 cents at mostly 7-36 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 1 and 1/4 cents at mostly 8-04 and 3/4. DNS wheat with 14 percent protein prices were up 2 to 5 cents at mostly 8-38 and 3/4.
August live cattle were up $2.10 on Thursday at 152-75. August Feeder cattle up $3.00 at 215-12 and half. July class III milk was 3 cents at 21-74.