Russia Wheat Exports
Wheat has been lower this week on news that Russia would be opening up their export program. Virginia McGathey has more.
McGathey… “Now wheat was lower today. Russia has removed the export restrictions starting for the marketing year, which started June 1st for wheat. So that really kind of put the kibosh on wheat for now. But overall, the focus is going to be on weather going forward. We've really had a number of warm days, looks like crops are going to do very well. And it isn't even summer yet. We've still got a couple more days before that happens, but eyes are still going to be on the economies opening, on what's happening with China, and if the weather is still doing well for the foreseeable future. Then our focus then will be June 30 acres report.”
Chicago July Wheat futures fell $0.07 ¼ to $4.88 ½.
Kansas City Hard Red Winter Wheat down $0.05 ½ to $4.32 ½.
July Corn closed up $0.01 ¼ to $3.30 ¼.
Portland prices for soft white wheat of ordinary protein down a nickel yesterday ranging from $5.85 to $5.95.
Club Wheat of Ordinary Protein down $0.05 as well ranging from $5.95 to $7.60.
Dark Northern Spring wheat was actually up $0.05 ¼ ranging from $6.30 ¼ to $6.70 ¼ for 14% protein.
Live Cattle futures were up $0.07 ½ on the August board to $96.85. Feeder Cattle for August up $0.70 to $133.62 ½.
Class III milk up again yesterday. This time $0.37 to $19.79.