Monday Market Report: Local Wheat up double digits!
Idaho Farm Bureau's Podcast
English - October 25, 2021 13:00 - 3 minutes - 2.43 MB - ★★★★ - 6 ratingsNews idahofarmbureaupodcast idahoagriculture idahocattle idahofarms Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Good Monday morning…We’ve had rain and its cooler outside, most of the potatoes are harvested and the last of the sugar beets, perfect farming weather!
It’s 45 degrees this morning in the Treasure Valley. a refreshing 43 in Poky a bit cooler in IF at 39. It’s 43 in Twin Falls and 43 in CDA.
On to the corn market, Friday’s 3 to 5 cent gains pushed December futures this morning 12 cents higher from last week’s open. Dec 21CBOT Corn opens at $5.38.
Domestic wheat futures are setting new contract highs on the first trade day of the week. December HRW futures open 1.7% to 3.5% higher. For spring wheat, prices open 1% to 2% higher on the day pulling Dec futures above the $10 mark for the first time since 2012. CBT SRW prices open 1.2% to almost 2-percent higher, extending the December contracts up 22 cents for last week.
Dec 21 CBOT Wheat opens at $7.56 up 21 cents from last week.
Over in Burley double digit gains this morning:
| - Soft White Wheat | 8.05 | Up 15
| - Hard Red Winter | 8.34 | Up 32
| - Hard Red Spring | 9.44 | Up 24
| - Barley | 11.00 | Unchanged
| - Hard White | 8.44 | Up 32
This morning, just like Friday afternoon fat cattle futures are down 52 to 80 cents. USDA reported cash trade for last week was wide and ranged from $123 - $127 north south, east west. Feeder cattle futures open down by triple digits so far, giving back $192 to $2.30. The CME Feeder Cattle Index opens at $154.03 after a 7 cent dip.
Heating oil opens at 67.36 down a few cents from last week.
Milk staying steady… opens up at $17.87 per hundredweight…up slightly from last week.
World Sugar stands steady at 18 cents per pound, that’s down slightly…
Over all this past week we saw Supreme hay trade around $260, Premium $250, Good $240 and Fair hay $230. Some areas got good rain over the weekend. The dairies seem to be very active hay buyers, getting what they can along with the exporters in eastern Idaho. The cow/calf producers will be feeling the pinch most have started feeding early. Dairies do have a lot of silage to fall back on but they’re covering their bases.
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