Wheat Consolidates

This is Matt Rice with today’s Market Line Report for Monday. Wheat found new highs last week, but prices slowed to finish the week, partially due to excessive heat. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day dn 1 ½, to finish at 703 ½. Dec. Corn was dn 11 ¼, to close at 544 ½. Kansas City Hard Red Winter Wheat prices for Sept. were dn 1 ¼, to settle at 673 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 9-10 to 10-20. Soft white wheat with 10 ½ % Protein for Sept. was Unch, ranging from 8-85 to 8-95. Hard Red Winter Wheat with 11 ½ percent Protein for Sept. were dn 1 ¼, ranging from 7-78 ¼ to 8-38 ¼. DNS wheat with 14 % protein, prices for Sept. were dn 13 ¾, ranging from 10-09 ¾ to 10-34 ¾.

Live Cattle for Oct. were dn $.95, closing at 127.20. Sept. Feeder cattle were dn $.15, to finish the day at 161.80. Sept. Class III milk was up $.10, to settle at 16.36.