Monday Market Report: Local wheat spikes upward!
Idaho Farm Bureau's Podcast
English - October 04, 2021 13:00 - 3 minutes - 2.6 MB - ★★★★ - 6 ratingsNews idahofarmbureaupodcast idahoagriculture idahocattle idahofarms Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Good Monday morning…It's cool outside, with some frost but perfect harvest weather!
It’s 50 degrees this morning in the Treasure Valley. a refreshing 39 in Poky a bit cooler in IF at 38. It’s 43 in TwinFalls and 45 in CDA.
Corn opens almost 6 cents in the black. Last week, December corn futures traded in the 24 cent range and a net 16 cent gain.
Dec 21CBOT Corn opens at $5.41 up 4 cents and up a strong 16 cents from last week.
The wheat markets are adding double digits to the upside ahead of last weekend. Chicago SRW futures are trading 14 to 24 cents higher this morning. KC wheat opens up by 12 cents; Minneapolis spring wheat futures open with gains of 15 to 16 cents.
Dec 21 CBOT Wheat opens at $7.49 up 4 cents from Friday and up 22 cents from last week.
Over in Blackfoot prices peaking in the black:
|
| - Soft White Wheat | 8.47 | Up 31
| - Hard Red Winter | 7.91 | Up 33
| - DNS 14% | 8.98 | Up 20
| - Hard White | 8.11 | Up 33
Live cattle futures open down 20 to 62 cents. Monday opens the trading day with a 17 cent draw-down to $120.40. Southern cash trades for the week range from $121 - $124, with most near $124, while the North is been down to $122 this week. Cash sales in the beef range $192 - $198 with most at $196. Feeder cattle futures open mostly weaker opening UNCH in November contracts to 30 cents lower by March ’22. The CME Feeder Cattle Index is $153.78 on 9/29, and that’s down by 88 cents.
Heating oil opens at 62.87 up to two bucks from last week and that’ll spike diesel and fertilizer prices.
Milk staying steady… open up at $18.15 per hundredweight…up two bucks and forecasters think those prices will continue to rise.
World Sugar stands at 20 cents per pound, that up slightly…
Higher quality hay is still running high at $240 and $250 per ton in the stack. Good hay is about $20 less at $230 to $230. Overall prices remained in the area of $90 per ton higher than last year.
That's it for the Monday market report…You can check out the market prices on the Idaho Farm Bureau web page… for the voice of Idaho Agriculture, I'm Jake Putnam