Hard Red Winter Wheat Cash Price

Ordinary Protein11%12%
-2 to 8
Fri PM
-2 to 8
Fri PM
-2 to 8
Fri PM
South Central MT3.70 - 3.97
4.00 - 4.154.25 - 4.40
Golden Triangle3.99 - 4.044.11 - 4.15
4.16 - 4.28
Northeast MT3.25 - 4.193.45 - 4.393.62 - 4.54
FOB Portland-2
5.26 - 5.36
Fri PM
-2
5.46 - 5.56
Fri PM
-2
5.61 - 5.71
Fri PM

Dark Northern Spring Wheat Cash Prices

13% Protein14%15%
-2
Fri PM
-2
Fri PM
-2
Fri PM
South Central
MT
4.30 - 4.534.54 - 4.694.66 - 4.81
Golden Triangle4.27 - 4.614.59 - 4.774.75 - 4.85
Northeast MT3.23 - 4.203.55 - 4.543.79 - 4.74
FOB Portland-2
5.74 - 5.81
Fri PM
-2
5.90 - 6.05
Fri PM
-2
5.98 - 6.17
Fri PM

Wheat / Durum / Barley Cash Prices

Soft White WheatHard Amber DurumFeed Barley
Steady to -5
Fri PM
Steady
Fri PM
Steady to -35
Fri PM
South Central MT
Golden Triangle4.50 - 5.005.65
Northeast MT5.25 - 5.75
FOB Portland5.50 - 5.59*priced on cwt basis

Wyoming / Nebraska / Colorado Cash Prices

Hard Red Winter WheatYellow CornWhite Millet
-1 to 5
Fri PM
-1 to 3
Fri PM
Steady
Thu PM
S.E. WYO - S.W. NE3.65 - 3.702.88 - 3.1813.00 - 15.00
North Central COLO3.96 - 4.263.40 - 3.53
Denver4.23 - 4.26
CommodityLastChangeOpenHighLow
HARD RED WINTER WHEAT September 20204.1550-0.01754.17004.20004.0975
HARD RED WINTER WHEAT December 20204.2725-0.01004.27754.30754.2075
HARD RED WINTER WHEAT March 20214.3825-0.01504.39754.42004.3275
HARD RED WINTER WHEAT May 20214.4675-0.01504.48504.49504.4175
WHEAT September 20204.9550-0.05755.01255.03754.9050
WHEAT December 20205.0350-0.04755.08505.11004.9850
WHEAT March 20215.1175-0.04755.16505.18755.0650
WHEAT May 20215.1725-0.05005.23005.24255.1200
HARD RED SPRING WHEAT September 20204.9450-0.01504.95504.97754.9100
HARD RED SPRING WHEAT December 20205.1050-0.00255.10755.12505.0650
HARD RED SPRING WHEAT March 20215.2525-0.00255.25005.26505.2175
HARD RED SPRING WHEAT May 20215.3525-0.00505.35505.36005.3200
SOYBEANS August 20208.7025-0.10508.78008.78758.7100
SOYBEANS September 20208.6575-0.09008.75758.75758.6450
SOYBEANS November 20208.6750-0.10508.78758.79508.6675
SOYBEANS January 20218.7400-0.10508.85508.85758.7350
CORN September 20203.0775-0.03503.11003.11753.0725
CORN December 20203.2075-0.03003.23503.24253.2000
CORN March 20213.3275-0.02753.35503.35753.3175
CORN May 20213.4125-0.02503.43503.44003.4000
 

Grain Market Commentary

DTN reports:

New-crop contracts of corn, soybean meal, KC wheat and Minneapolis wheat all posted their lowest weekly closes Friday as crops are largely thriving in this year’s good weather. The September U.S. Dollar Index added to some of the bearish pressure, trading up 0.66 after the U.S. Labor Department reported a lower unemployment rate in July.

 

Wheat:

September KC wheat fell 1 3/4 cents to a new contract low of $4.15 1/2 Friday, while the bearish case for wheat prices finds no opposition to offer support. This week heard about higher private wheat crop estimates for Russia and Canada and a forecast for beneficial rain in Australia. The latter stage of the HRW wheat harvest is also going well with high yields reported in the Dakotas. World wheat production is looking good overall and USDA will probably increase its estimate of both, U.S. and world ending wheat stocks in Wednesday’s WASDE report. Wheat exports are up 9% in the new season from a year ago, which is slightly helpful. The worst part of wheat demand in 2020-21 is that feed wheat will find it difficult to compete with abundant supplies of cheap corn. Spring wheat harvest may have been interrupted Friday as rain moved across part of the Dakotas, but the 7-day forecast is mostly dry and favorable for further progress. September Minneapolis wheat closed down 1 1/2 cents at another new contract low of $4.94 1/2. Fundamentally, the bears are currently in control with no major production problems seen in 2020-21. From a technical view, the trend has turned sideways for cash SRW wheat and is down for cash HRW and HRS wheats. DTN’s National HRW Index closed at $3.96 Thursday, breaking below support at $4.00. DTN’s National SRW Index closed at $4.80, down from a 3-month high.

 

Corn:

December corn ended down 3 cents at $3.20 3/4 Friday, a new weekly low with numerous bearish concerns weighing on prices. Friday’s weather map shows light to moderate showers in the northwestern and southwestern U.S. Plains, rain that is expected to expand across the Corn Belt the next seven days. Western Iowa, however, will only see light amounts and remains the sore spot of drought in the Corn Belt. The 6- to 10-day forecast expects above normal temperatures with below normal precipitation in the Western Corn Belt, mostly normal precipitation in the central and Eastern Corn Belt. There is a risk of yields being limited in the Western Corn Belt, but Wednesday’s WASDE report will likely show an increase in USDA’s 15.0 billion bushel (bb) crop estimate, possibly to 15.3 bb or higher. The expectation for a large fall harvest is bearish enough, but corn demand is also a concern with ethanol production limited and exports down 17% from a year ago. Fundamentally, it is difficult to find a bullish argument for corn prices as we approach harvest and that leaves prices vulnerable to a lack of support. Technically, the trend in cash corn remains sideways with numerous bearish factors pressuring prices lower. DTN’s National Corn Index closed at $2.90 Thursday evening, near a 2-month low and 22 cents below the September contract. Outside markets lean bearish Friday with the September U.S. Dollar Index trading up 0.66. The U.S. Labor Department said nonfarm payrolls were up 1.8 million in July, more than expected. The U.S. unemployment rate fell from 11.1% in June to 10.2% in July, showing some recovery from the economic hit suffered in the second quarter.

 

Links to Market Analysis

Ag Center – Cattle Report Livestock Marketing Information Center Kansas State – AgManager.info North Dakota State – Livestock Economics University of Missouri – Farm Marketing CattleFax 

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