Cool temps and cooler Wheat market: Monday market report

Welcome to the Monday market report…

We had some chilly morning temps on Sunday and this morning is cold too…

It’s a cool 48 degrees this morning in Boise’s Treasure Valley. The smoke has cleared out and rain on Friday night really knocked down the fires during North of here.  Its a chilly 35 in Poky 32 in IF, lows in the 50’s!  Northern Idaho it's 45 this morning in CDA a bit colder in Sandpoint…. Afternoon temps will hit the 60s 70s.

On the markets, Corn trading at $3.65 up a cent over Friday.

Monday morning wheat trade has all futures extending losses. SRedWinter futures open down 2 cents so far. HardRedWinter futures are down 2 cents this morning. 

  Dec 20 CBOT Wheat opens at $5.47, down a cent.
  Dec 20 KCBT Wheat opens at $4.81, down 3  and a quarter cents,
  Dec 20 MGEX Wheat is at $5.31, that's down 1 and three-quarter cents,

Over in Meridian:

 Soft White Wheat | 4.53 | down 10
 Hard Red Winter | 5.20 | down 5
 DNS 14% | 5.33 | down 1
 Corn | 4.28 | unchanged

Milk still trading steady, now at $16.31 up 5 cents from last Friday.

Monday Front-month cattle futures are trading with up to 57 cent gains this morning. And Feeder cattle futures open with 30 cent gains. September feeder cattle futures expire at the close this afternoon. The CME Feeder Cattle Index is seeing a $.28-cent premium to Sept futures, at $142.28. USDA reported light Friday cash sales mostly at $105. The week’s range of sales so far is $103 to $105.25. Dressed sales were reported at $164 

The Idaho export market for high-quality hay is steady at  $170-180 because of supply. Clean and green hay is fetching $120. The export market in Washington is a little weaker because of supply With the 4th cut in progress there’s a lot of supply now, but demand, steady.

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