Global Wheat Supply

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Increased global wheat supply drives prices lower along with the Fed’s Rate Hike yesterday. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Dn 56 ½, to finish at 8-46. Dec Corn was Dn 10 ¼, to finish the day at 6-87 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 47 ¾, to settle at 9-40 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Up 20 - UNCH, ranging from 9-30 to 9-95. Soft White Wheat with 10 ½ % Protein prices for Dec. were Dn 27 - UNCH, ranging from 8-83 to 9-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were Dn 49 ¾, ranging from 10-60 ¼ to 10-80 ¼. DNS wheat with 14 % protein, prices for Dec. were Dn 40 ½, ranging from 10-29 ¼ to 10-49 ¼.

Live Cattle for Dec. were Dn $.55, closing at 151.40. Jan. Feeder Cattle were Up $1.80, to finish the day at 180.00. Dec. Class III milk was Dn $.04, to settle at 19.06.