Global Wheat Supply Drives Demand

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Wheat prices continue to surge after global supply uncertainty rises. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 20 ¼, to finish at 9-02 ½. Dec Corn was Up 6 ¼, to finish the day at 6-97 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were Up 11 ¼, to settle at 9-90.

Portland prices for Club Wheat with 10 ½ % Protein were Up 05 - UNCH, ranging from 9-10 to 9-95. Soft White Wheat with 10 ½ % Protein prices for Dec. were Up 12 - UNCH, ranging from 9-10 to 9-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were Up 11 ¼ - 06 ¼, ranging from 11-10 to 11-30. DNS wheat with 14 % protein, prices for Dec. were Up 8 ½ - 16 ½, ranging from 10-69 ¾ to 10-89 ¾.

Live Cattle for Dec. were Dn $.52 ½, closing at 151.95. Jan. Feeder Cattle were Dn $1.25, to finish the day at 178.20. Nov. Class III milk was Up $.12, to settle at 20.59.