Idaho Farm Bureau's Podcast

US Wheat up double digits

October 15, 2020 Idaho Farm Bureau
Idaho Farm Bureau's Podcast
US Wheat up double digits
Chapters
Idaho Farm Bureau's Podcast
US Wheat up double digits
Oct 15, 2020
Idaho Farm Bureau

It’s 45 degrees this morning in the Treasure Valley.  And a cool 44 in Poky, 40 in IF,  Northern Idaho, it's 42 this morning in CDA and a bit colder in Sandpoint…. Afternoon temps will hit the 50s and 60’s.

On the markets, Dec. 20 Corn futures opening at $4.03…That was an all-time high on the front month continuation.  Up 16 cents from last week…

Wheat opens up with huge gains across the board:

The domestic wheat markets rallied double digits late Thursday demand is driving the market

Dec 20 CBOT Wheat opens at $6.14, up 21 1/2 cents,
Dec 20 KC Wheat opens at $5.58, up 22 3/4 cents,
Dec 20 MGEX Wheat opens at $5.58, up 12 cent

Over in Blackfoot

 - Soft White Wheat | 4.98 | up 10
 - Hard Red Winter | 4.95 | up 11
 - DNS 14% | 4.83 | up 4
 - Hard White | 4.95 | up 11

Milk is still on the rise thanks to strong domestic demand and strong retail, now trading at  21.36 per hundredweight. That's up another 50-60 cents over last week.

Live cattle futures open the session down 37 cents. Feeders are mixed this morning with 15 to 55 cent gains in 2020 markets, and triple-digit losses in the deferred contracts. The Feeder Cattle Index from CME opens a penny weaker at $140.91. USDA noted Thursday deals were light, from $105 - $108. The bulk of trade for the week has been near $108.

Idaho supreme quality hay is trading at  $190-180, good quality going for 140. demand good.

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

Show Notes

It’s 45 degrees this morning in the Treasure Valley.  And a cool 44 in Poky, 40 in IF,  Northern Idaho, it's 42 this morning in CDA and a bit colder in Sandpoint…. Afternoon temps will hit the 50s and 60’s.

On the markets, Dec. 20 Corn futures opening at $4.03…That was an all-time high on the front month continuation.  Up 16 cents from last week…

Wheat opens up with huge gains across the board:

The domestic wheat markets rallied double digits late Thursday demand is driving the market

Dec 20 CBOT Wheat opens at $6.14, up 21 1/2 cents,
Dec 20 KC Wheat opens at $5.58, up 22 3/4 cents,
Dec 20 MGEX Wheat opens at $5.58, up 12 cent

Over in Blackfoot

 - Soft White Wheat | 4.98 | up 10
 - Hard Red Winter | 4.95 | up 11
 - DNS 14% | 4.83 | up 4
 - Hard White | 4.95 | up 11

Milk is still on the rise thanks to strong domestic demand and strong retail, now trading at  21.36 per hundredweight. That's up another 50-60 cents over last week.

Live cattle futures open the session down 37 cents. Feeders are mixed this morning with 15 to 55 cent gains in 2020 markets, and triple-digit losses in the deferred contracts. The Feeder Cattle Index from CME opens a penny weaker at $140.91. USDA noted Thursday deals were light, from $105 - $108. The bulk of trade for the week has been near $108.

Idaho supreme quality hay is trading at  $190-180, good quality going for 140. demand good.

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