Weekend market report: double digit gains in Corn and Wheat


Manage episode 282410871 series 2287287
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Good Friday morning…

It’s 27 degrees this morning in the Treasure Valley cloudy but unseasonably warm, Its 23 in Poky, 20 in IF. In Northern Idaho, it’s 30 and cloudy this morning in CDA and a bit colder in Sandpoint…. Scattered snow over the weekend there.

On to the markets:

Corn futures still climbing upwards, Corn opens at $5.34,The rally for corn continued through this morning with dime gains in May and July futures. New crop futures opens the session 4 1/2 to 6 1/2 cents higher.

Friday wheat trading opens strong

| Mar 21 CBOT Wheat is at $6.72, up 11 cents,
| Mar 21 KCBT Wheat is at $6.36, up 10 cents,
| Mar 21 MGEX Wheat is at $6.40, up 11 cents,

Local wheat still lagging behind the midwest:

| Meridian |
| - Soft White Wheat | 6.01 | down 4
| - Hard Red Winter | 6.44 | down 3
| - DNS 14% | 6.16 | up 5
| - Corn | 5.86 | down 5

Milk inching up, now trading at $16.29 per hundredweight this morning, leveling off a bit but projected back up.

Nearby fat cattle futures open 35 cents stronger. Feb futures are about $1.25 premium to cash, with less than 4 weeks to deliveries. Feeder cattle closed the midweek session 35 to 65 cents in the black. Jan feeders have 10 trade days left before expiration. The CME Feeder Cattle Index is down 17 cents to $136.05 on 1/12.

Idaho Hay, supreme quality trading at $190, good quality going for $140 feeder demand steady.

That's it for the Weekend market report from the voice of Idaho Agriculture, I'm Jake Putnam

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