Market Report: Wheat opens up after long weekend


Manage episode 285121171 series 2287287
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Good Tuesday morning—Markets were closed Monday for Presidents Day—let's take a look at the markets this morning…but first

We’ve had a lot of snow and more expected. It’s a cool 25 degrees this morning in the Treasure Valley, Its 21 in Poky, 20 in IF. In Northern Idaho, it’s 23 and snow this morning in CDA.

On to the markets:

Corn futures surged into the three-day break with 2 1/4 to 3 1/4 cent losses. This morning corn opens in Chicago at $5.38 down two cents.

Domestic wheat futures markets open trading higher. Soft Red Winter wheat is up 2 to 3 1/2 cents.

| Mar 21 CBOT Wheat opens at $6.36, up almost 3 cents,
| Mar 21 KCBT Wheat is at $6.17, up 6 1/4 cents,
| Mar 21 MGEX Wheat is at $6.20, up 4 1/4 cents,

Local wheat still also on the rise and report modest gains across the board:

- Soft White Wheat | 5.27 | up 2
- Hard Red Winter | 5.37 | up 2
- DNS 14% | 5.59 | unchanged
- Hard White | 5.37 | up 2

Milk prices steady, now trading at $15.61 per hundredweight this morning, a cent up from last week.

Live cattle futures open the board $1.12 to $2.35 higher at midday. Feeder cattle futures open up triple digits so far with gains of $1.35 to $2.50. The CME Feeder Cattle Index is $135.49, down by 16 cents.

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

That's it for the Market Report from the voice of Idaho Agriculture, I'm Jake Putnam

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