Idaho Farm Bureau's Podcast

Weekend market report: Corn and local wheat looking strong,

September 17, 2020 Idaho Farm Bureau
Idaho Farm Bureau's Podcast
Weekend market report: Corn and local wheat looking strong,
Chapters
Idaho Farm Bureau's Podcast
Weekend market report: Corn and local wheat looking strong,
Sep 17, 2020
Idaho Farm Bureau

Welcome to the Weekend market report…

It’s a  nice 55 degrees this morning in Boise’s Treasure Valley. The smoke has started lifting, the burn ban is still in effect, but it's going to clear out soon across the state.  It's colder in Poky and IF lows in the 50’s! Still a little warm for digging spuds in the afternoon.   Northern Idaho its 55 in CDA and Sandpoint…. Afternoon temps in the 70s and 80’s The warm temperatures will last a few more days, and fire danger remains high.

On the markets, Corn trading $3.75 up 19 cents this past week!

Wheat futures open to double digits this morning, led by CBT Soft Red Winter. Chicago winter wheat futures open the session up by 14 cents. KC winter wheat traded 9 cents higher. Over in Minneapolis, spring wheat futures open up 7 to 10 cents on the day. Wheat export bookings are down 30% on the week and at the low end of estimates.

Over in Burley:

 | - Soft White Wheat | 4.51 | up 7
 | - Hard Red Winter | 4.34 | up 10
 | - DNS 14% | 4.81 | up 5
 | - Hard White | 4.34 | up 10

Milk continues to fall, now at $16.25 down 15 cents from last Friday.

Friday cattle trading futures are mixed to mostly lower. Losses open up 37 to 62 cents in the front months, while October fats gained a nickel. Feeder cattle futures open down by $0.57 cents from Thursday’s close. The CME Feeder Cattle Index for September 16 is $141.20, back up by another 60 cents. USDA reported moderate cash activity in NE, KS Thursday. Trades in NE were at $103. KS sales were $103- $103.50. USDA mentioned minimal dressed base sales. 

The export market for the higher quality hay is around the $170 and higher mark while clean and green hay is indicated to be $120. The export market in Washington is a little weaker with some of the markets now willing to stand on the sidelines until there is a clearer picture for exports. With the 4th cut in progress there’s lots of supply right now, but also good demand.

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

Show Notes

Welcome to the Weekend market report…

It’s a  nice 55 degrees this morning in Boise’s Treasure Valley. The smoke has started lifting, the burn ban is still in effect, but it's going to clear out soon across the state.  It's colder in Poky and IF lows in the 50’s! Still a little warm for digging spuds in the afternoon.   Northern Idaho its 55 in CDA and Sandpoint…. Afternoon temps in the 70s and 80’s The warm temperatures will last a few more days, and fire danger remains high.

On the markets, Corn trading $3.75 up 19 cents this past week!

Wheat futures open to double digits this morning, led by CBT Soft Red Winter. Chicago winter wheat futures open the session up by 14 cents. KC winter wheat traded 9 cents higher. Over in Minneapolis, spring wheat futures open up 7 to 10 cents on the day. Wheat export bookings are down 30% on the week and at the low end of estimates.

Over in Burley:

 | - Soft White Wheat | 4.51 | up 7
 | - Hard Red Winter | 4.34 | up 10
 | - DNS 14% | 4.81 | up 5
 | - Hard White | 4.34 | up 10

Milk continues to fall, now at $16.25 down 15 cents from last Friday.

Friday cattle trading futures are mixed to mostly lower. Losses open up 37 to 62 cents in the front months, while October fats gained a nickel. Feeder cattle futures open down by $0.57 cents from Thursday’s close. The CME Feeder Cattle Index for September 16 is $141.20, back up by another 60 cents. USDA reported moderate cash activity in NE, KS Thursday. Trades in NE were at $103. KS sales were $103- $103.50. USDA mentioned minimal dressed base sales. 

The export market for the higher quality hay is around the $170 and higher mark while clean and green hay is indicated to be $120. The export market in Washington is a little weaker with some of the markets now willing to stand on the sidelines until there is a clearer picture for exports. With the 4th cut in progress there’s lots of supply right now, but also good demand.

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