July Crop Progress
Somewhat of a quieter day in markets on Tuesday. USDA did come out with some crop progress numbers. Standard Grain’s Joe Vaclavik shares update on winter wheat harvest.
Vaclavik… “U.S. winter wheat crop 74% harvested versus 68% last week in 75% on average. And there are a lot of states that are either done or very close to completion. Those States include Texas, Oklahoma, Kansas, Arkansas, Colorado, Missouri, Illinois, Indiana, and Ohio. You got a slow pace in North Western States like Washington, Oregon, Idaho, Montana. Those are dragging down the national number. The spring wheat crop rate at 68% good to excellent on changed on the week ahead of the 65% average. The spring wheat crop is 91% headed versus 80% last week and 94% on average. So nothing shocking or surprising.”
In closing markets:
Chicago September Wheat futures back up $0.05 ½ after Monday’s drop to $5.27 ½.
Kansas City Hard Red Winter Wheat up $0.07 ½ to $4.42 ½.
September Corn fell $0.05 ½ to $3.22 ½.
Portland prices unchanged. Soft white wheat of ordinary protein still ranging from $5.75 to $5.80.
Club Wheat of Ordinary Protein steady at $5.75 to $7.55.
Dark Northern Spring wheat was up $0.04 ranging from $6.05 ½ to $6.25 ½ for 14% protein.
Live Cattle futures were down $0.42 ½ on the August board to $101.85. Feeder Cattle for August down $0.27 ½ to $141.32 ½.
Class III milk charged ahead yesterday up another $0.15 to $23.30.