Wheat Markets Mostly Lower on Thursday
Wheat closed mostly unchanged to 6 cents lower on Thursday. From the floor of the CME Group, Larry Shover shares his observations of Thursday’s markets.
Shover: “Thursday’s grain trade another sea of red — we’re getting use to this. Wheat ended the day — started the day down 2 cents — ended Decs down 6 cents on the day. Exports for two weeks in a row came in lower on the low side of consensus at 396,000 metric tons. There is some dry weather concerning some traders in Australia and the Ukraine particularly. Lastly, USDA’s small grain report coming out next Tuesday. All eyes will be on that.”
Chicago December Wheat ended Thursday down 6 and 1/4 cents at 4-74. December corn ended the day down 3 and 1/2 cents at 3-26.?Portland prices for soft white wheat were down a quarter of a cent to 16 and 1/4 cents at mostly 6-61 and 3/4. White club wheat prices were mixed down 11 to up 8 and 3/4 cents at mostly 8-93. Hard Red Winter wheat with 11.5 percent protein prices were steady to down 15 cents at mostly 7-06 and 1/4. DNS wheat with 14 percent protein prices were down 1 and 3/4 cents at mostly 8-03 and 1/4.
October live cattle were up 12 and half cents on Thursday at 155-45. October Feeder cattle were down 30 cents at 230-10. October class III milk was down 27 cents at 24-73.