Wheat Still Lower on Thursday
Both Chicago and Minneapolis wheat contracts were mostly lower, Kansas City wheat though had a positive day. From the floor of the CME Group Larry Shover shares his observations of Thursday’s markets.
Shover: “Thursday’s grain market very volatile but all on the down side here at the CME. Decs corn down about 5 cents after double digit losses yesterday. Obviously the strength in the U.S. dollar is not helping the cause. Decs wheat down about 3 cents on the day. Disappointing news only two deliveries versus Chicago September wheat yesterday — that did not really help matters.”
Chicago December Wheat ended Thursday down 5 and 1/2 cents at 5-30 and 1/4. December corn ended the day down 5 and 1/2 cents at 3-46 and 1/2.
Portland prices for soft white wheat were down 5 and 1/2 to 22 and 3/4 cents at mostly 6-80 and 1/4. White club wheat prices were down 5 and 1/2 to 20 and 3/4 cents at mostly 8-99. Hard Red Winter wheat with 11.5 percent protein prices were up 3 and 1/2 cents at mostly 7-27 and 1/4. DNS wheat with 14 percent protein prices were down 2 and 1/4 cents at mostly 8-25.
October live cattle were up $1.62 and half on Thursday at 157-05. October Feeder cattle were up 22 and half cents at 222-even. October class III milk was down 4 cents at 22-63.