Cash Wheat Prices
Wheat futures up sharply on Thursday, and so is cash basis in some areas. Here’s Standard Grain’s Joe Vaclavik.
Vaclavik… “I've seen a big spike in wheat basis in some areas of the country. HRW wheat and spring wheat as well. And we've seen some much better demand on the cash side. You go to the grocery store and you see the shelves are cleaned out. The flour manufacturing plants, millers, have much bigger orders much more demand than they'd what they normally see in March. So if you're a wheat grower, you've got some wheat that's unpriced or new crop wheat even. Take a look at your basis bids this morning. Take a serious look at this situation because it's changed pretty quickly this week.”
Chicago May Wheat futures yesterday closed up $0.26 ½ to $5.35.
Kansas City Hard Red Winter Wheat up $0.19 to $4.65 ½.
May Corn up $0.10 ¼ to $3.45 ½.
Portland prices for soft white wheat of ordinary protein unchanged at $5.80.
Unchanged on the Club Wheat of Ordinary Protein as well ranging from $5.80 to $7.55.
Dark Northern Spring wheat prices spiked $0.10 ½ ranging from $6.54 ¾ to $6.89 ¾ for 14% protein.
The yo-yo effect still happening in the cattle futures. Live Cattle futures up $3 on the April board to $95.10. Feeder Cattle up $4.50 to $117.07 ½.
Class III milk bounced back yesterday up $0.34 to $16.01.