Wheat Markets Continues Higher
More tension from the Ukraine-Russia conflict helped to boost wheat markets higher. From the floor of the CME Group Larry Shover shares his observations of Thursday’s markets.
Shover: “A pretty busy day in the grain market here on Thursday. Wheat was really the mover today — up about 13 cents although up a lot higher than that it did back down toward the close. Thursday’s livestock trade very volatile. We saw November cattle up sharply on the day — in to the close well over $2. Feeder up also.”
Chicago September Wheat ended Thursday up 9 and 1/4 cents at 5-56 and 1/2. September corn ended the day up 5 and 3/4 cents at 3-61 and 3/4.
Portland prices for soft white wheat were up 2 and 3/4 to 9 and 1/2 cents at mostly 7-06 and 1/2. White club wheat prices were mixed down 15 and 1/2 to up 9 and 1/2 cents at mostly 9-06 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 6 and 3/4 to 16 and 3/4 cents at mostly 7-46and 3/4. DNS wheat with 14 percent protein prices were up 4 and 3/4 to 21 and 3/4 cents at mostly 8-16.
October live cattle were up $2.27 and half on Thursday at 150-10. September Feeder cattle were up $2.67 and half at 217-15. September class III milk was down 3 cents at 23-95.