Wheat Markets End Higher on Thursday
Thursday brought higher prices across the board for wheat markets. From the floor of the CME Group, Larry Shover shares his observations of Thursday’s markets.
Shover: “Wheat has been range-bound for the last 8 days.Spring wheat harvest is good about 68 percent right now deemed to be good to excellent. U.S. spring wheat about 17 percent is harvested right now — which is well below the five-year average and lastly as we’ve said there seems to be a continued risk premium built into wheat due to perceived or potential supply losses by Ukraine.”
Chicago September Wheat ended Thursday up 6 and 3/4 cents at 5-46 and 1/4. September corn ended the day up 2 and 3/4 cents at 3-62 and 1/4.
Portland prices for soft white wheat were steady to up 6 and 3/4 cents at mostly 6-93 and 1/2. White club wheat prices were up 40 and 1/2 to 62 cents at mostly 8-54 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were up 3 and 1/4 cents at mostly 7-21. DNS wheat with 14 percent protein prices were up 5 and 1/2 cents at mostly 7-79 and 3/4.
October live cattle were up 15 cents on Thursday at 145-55. September Feeder cattle were down 1.82 and half at 209-42 and half. September class III milk was up 49 cents at 23-63.