Excessive Heat Drives Grains Higher

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Excessive heat and drier forecasts continue to put a dampner on crop production, ultimately creating more demand. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up 26 ¾, to finish at 8-17. Dec Corn was Up 16, to finish the day at 6-19. Kansas City Hard Red Winter Wheat prices for Sept were Up 28, to settle at 8-89 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to up 10, ranging from 8-90 to 9-60. Soft white wheat with 10 ½ % Protein prices for Sept. were Unch, ranging from 8-90 to 9-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Up 28, ranging from 9-89 ¾ to 10-09 ¾. DNS wheat with 14 % protein, prices for Oct. were Up 18 ¼, ranging from 10-20 ¼ to 10-30 ¼.

Live Cattle for Oct. were Dn $.50, closing at 141.82 ½. Sept. Feeder Cattle were Dn $1.65, to finish the day at 180.20. Aug Class III milk was Dn $.49 to settle at 19.83.