Strong Day in the Wheat Market on Tuesday

Strong Day in the Wheat Market on Tuesday

I’m KayDee Gilkey with the Market Line Report for June 24, 2015.
Reports about the continuing and widespread problem of scab with Kansas wheat provided support to the wheat and corn markets on Tuesday. From the floor of the CME Group, Jack Scoville shares
Scoville: “Its been a strong day in the grain markets, especially in the wheat market today. Reports out of Kansas from Kansas State Extension Service highlighting how severe the scab problem is and how it has really expanded in the state of Kansas. That really supported the wheat market across the board — Kansas City, Chicago, and Minneapolis all charging higher and likely to continue stronger until we hear how extensive this damage is.”
Chicago September Wheat ended Tuesday up 21 cents at 5-27. September corn ended the day up 7 and 3/4 cents at 3-72.
Portland prices for soft white wheat of ordinary protein were steady to up 21 cents for August delivery of new crop ranging between 5-85 and 6-32. White Club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were up 8 and 1/4 to 18 and 1/4 cents at mostly 6-20 and 1/4. DNS wheat with 14 percent protein prices were up 16 and 3/4 cents at mostly 7-57 and 3/4.
August live cattle were down 7 and half cents on Tuesday at 151.82 and half. August Feeder cattle were down 42 and half cents at 225.35. August class III milk was down 2 cents at 16-70.

 

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