Wheat Prices

Wheat Prices

Tim Hammerich
Tim Hammerich
News Reporter
Here with your Market Line Commodity Report, I’m Tim Hammerich.

Positive territory across the board on Thursday. Wheat closed the day up double-digits. Still not much reason to believe it’s part of a broader upward trend though, says Standard Grain’s Joe Vaclavik.

Vaclavik… “The wheat market has been kind of, I'd call it a sloppy kind of directionless trade. We're higher here this morning, but these winter wheat contracts still well removed from their April highs. You've got a weaker U.S. dollar, although it is a little bit higher this morning. You've got a forthcoming U.S. harvest and lackluster export demand. So we're just trading some bigger ranges here, but still, I can't really identify a trend. I mean, I guess you could argue maybe it's been lower since mid-April, but, more of a sideways kind of sloppy action here.”

In closing markets:

Chicago July Wheat futures yesterday closed up $0.11 ½ to $5.23 ½.

Kansas City Hard Red Winter Wheat up $0.14 ½ to $4.72 ¼.

July Corn closed up a nickel to $3.29.

Portland prices for soft white wheat of ordinary protein up slightly, now ranging from $5.90 to $6.05.

Same on the club wheat of ordinary protein, $5.90 to $7.80.

Dark Northern Spring wheat prices up $0.06 ranging from $6.36 ¼ to $6.76 ¼ for 14% protein.

Live Cattle futures were up $0.57 ½ on the August board

to $97.92 ½. Feeder Cattle for August up $0.50 to $134.72 ½.

Class III milk still strong, up $0.38 to $20.21.

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