Second Day of Higher Wheat Prices
Reporting from the Tri-State Grain Growers Convention, it was a second day of higher prices in the wheat futures. From the floor of the CME Group Larry Shover shares his observations of Thursday’s markets.
Shover: “Very interesting grain trade here on Thursday at the CME Group. We’ve got to start with wheat — back to back meaningful gains in wheat. Seeing it up 6 to 12 cents on the day. As most of us know there has been some very extreme cold weather in the winter wheat growing area, there is no snow cover to protect the stalks right now. All hands are on deck, people are very nervous about how long this cold snap is going to last. Also we see rumors of flaring up in the Ukraine — definitely not helping out with the wheat trade.”
Chicago December Wheat ended Thursday up 11 cents at 5-53 and 3/4. December corn ended the day up 8 and 1/2 cents at 3-86 and 1/4.
Portland prices for soft white wheat were steady to up 21 cents at mostly 7-11. White club wheat prices were up a penny to 5 and 1/4 cents at mostly 9-57 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up 6 cents at mostly 7-53 and 1/4. DNS wheat with 14 percent protein prices were up 3 cents at mostly 9-32 and 1/4.
December live cattle were up$1.90 on Thursday at 169-65. January Feeder cattle were up 85 cents at 234-22 and half. December class III milk was down 18 cents at 18-70.