Wheat and Corn Both Lower on Thursday
Grains were lower across the board on Thursday. From the floor of the CME Group, Oliver Sloup shares
Sloup: “It was a not so friendly day across the board — corn, soybeans, wheat: old crop, new crop — all trading a little bit lower. We’ve had good weather over the past couple of sessions and that has put some pressure on the market as well as a stronger dollar. That is what we are mostly looking at today — a stronger dollar. We do have non-farm payrolls and unemployment rate that comes out tomorrow at 7 a.m. Central time. That is going to have a big factor on the dollar. The currency obviously plays a role on either higher or lower commodity prices. The dollar today was stronger and that put pressure on the markets.”
Chicago July Wheat ended Thursday down 6 and 1/2 cents at 4-72 and 3/4. July corn ended the day down 5 and 1/4 cents at 3-61 and 1/2.
Portland prices for soft white wheat and white club wheat of ordinary protein were steady to down 6 and 1/2 cents at mostly 5-90 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 2 and 1/2 cents at mostly 5-98 and 3/4. DNS wheat with 14 percent protein prices were down 9 cents at mostly 7-30.
June live cattle were down 85 cents on Thursday at 149.37 and half. August Feeder cattle were down 7 and half cents at 216.80. June class III milk was up a dime at 17-even.