Drought Pumps Grains Higher

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Drier Crop conditions in the Midwest has given the grain market a much needed boost. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day Up 39 ½, to finish at 7-48 ¼. Dec. Corn was Up 31 ¼, to finish the day at 6-28 ¾. Kansas City Hard Red Winter Wheat prices for Sept. were Up 37 ½, to settle at 8-72.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 10, ranging from 7-40 to 8-10. Soft white wheat with 10 ½ % Protein prices for Aug. were Unch, ranging from 7-40 to 7-60. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Up 37 ½, ranging from 9-17 to 9-22. DNS wheat with 14 % protein, prices for Aug. were Up 29 ¾, ranging from 9-51 ¾ to 9-61 ¾.

Live Cattle for Aug. was Up $.05, closing at 169.75. Aug. Feeder Cattle were Dn $4.42 ½, to finish the day at 227.72 ½. July Class III milk was Up $.41, to settle at 15.78.