Wheat Futures Push Higher on Thursday
Both wheat and cattle prices were positive on Thursday. From the floor of the CME Group Larry Shover shares his observations of Thursday’s markets.
Shover: “Thursday’s grain markret — there was actually a lot of negative news out but you wouldn’t know it from the grain markets responding with rallies across the board. Decs wheat didn’t seem to be helped or hurt by the U.S. dollar today — up 11 cents at the close today. Planting of U.S. winter wheat as noted is up about 1 point over estimates from last year and also at the expect of this year — 43 percent of that plant has emerged already. The five-year average is about 37 percent.”
Chicago December Wheat ended Thursday up 11 cents at 5-17. December corn ended the day up 4 and 3/4 cents at 3-52 and 1/4.
Portland prices for soft white wheat were steady to up 11 cents at mostly 6-80 and 1/4. White club wheat prices were up 11 cents at mostly 9-27 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices up 3 to 23 cents at mostly 7-63. DNS wheat with 14 percent protein prices were up11 and 3/4 cents at mostly 9-17 and 1/2.
December live cattle were up $2.82 and half on Thursday at 165-30. November Feeder cattle were limit up $3 at 237-15. November class III milk was up 26 cents at 21-75.