Heat Cycle Hits Midwest

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Above average temperatures could create poor crop conditions as traders keep an eye on the upcoming forecast throughout the Midwest. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Dn ¾, to finish at 6-23. Dec. Corn was Up 6, to finish the day at 4-81 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Up 7, to settle at 7-52 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 5, ranging from 6-80 to 7-35. Soft white wheat with 10 ½ % Protein prices for Oct. were Unch, ranging from 6-85 to 7-30. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Up 7, ranging from 7-72 ½ to 7-77 ½. DNS wheat with 14 % protein, prices for Oct. were Up 4 ¼, to settle at 8-56 ¼.

Live Cattle for Oct. was Dn $.70, closing at 179.27 ½. Oct. Feeder Cattle were Dn $.57 ½, to finish the day at 250.97 ½. Sept. Class III milk was Dn $.13, to settle at 17.91.