Corn and wheat open with double digit gains--Again!


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Good Monday morning…

It’s a cool 39 degrees this morning in the Treasure Valley, Its 28 in Poky, 22 in IF. In Northern Idaho, it’s 39 and clear this morning in CDA and a bit colder in Sandpoint.

On to the markets:

Front-month corn futures closed with double-digit gains on Friday, and open strong this morning, they set new contract highs for March and May. For the first month of 2021 March, corn futures gained 63 cents. Mar 21 Corn opens at $5.47, up 12 1/2 cents,

At the close of Friday and the open this morning, wheat futures are double digits higher.

Mar 21 CBOT Wheat closed at $6.63, up 16 cents,
Mar 21 KCBT Wheat closed at $6.38, up 12 cents,
Mar 21 MGEX Wheat closed at $6.33 1/2, up 14 cents,
Local wheat still also on the rise and report hefty gains across the board:

- Soft White Wheat | 5.25 | up 8
- Hard Red Winter | 5.84 | up 13
- Hard Red Spring | 6.17 | up 12
- Barley | 7.75 | unchanged
- Hard White | 5.71 | up 13

Milk prices still flat, now trading at $16.12 per hundredweight this morning, down 2 cents from Thursday.

At the closing bell on Friday, front-month live cattle futures were down $0.85 to $1.72. The open this morning down .85 cents. Feeder cattle futures also dropped triple digits with losses of as much as $2.07. The 1/27 CME Feeder Cattle Index was $135.34, up by 51 cents. USDA confirmed cash trades for the week were $110-$113, but mostly at $113.

Idaho Hay, supreme quality trading up to $200 good quality going for $160 feeder demand picking up.

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

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