The Montana Wheat and Barley Committee: Putting your checkoff dollars to work.

Established in 1967, the Montana Wheat and Barley Committee promotes research, marketing and education for the benefit of Big Sky producers living, working and growing here in the Last Best Place.

More about us

News

JUNE 20 – WHEAT PRICES POP 2% AS MARKETS LOOK FOR A BOTTOM
/ Categories: Industry News

JUNE 20 – WHEAT PRICES POP 2% AS MARKETS LOOK FOR A BOTTOM

Market News

Wheat prices recovered Wednesday as buyers snapped up contracts in an oversold market and are now looking to profit from a rebound in sentiment. The day was dominated by wheat’s more than 2% gains as corn prices and soybean prices were up marginally.

It’s difficult to say that prices have reached a bottom in the wake of President Trump’s ongoing tariff tantrum. With that in mind, let’s take a look at grain prices at the Chicago Board of Trade.

Wheat Prices Pop 2% in Chicago

In Chicago, July wheat prices added 10.5 cents to end the day a tick above $4.88. The September contract added 9.75 cents to end the day just above $4.99.

Down in Kansas City, HRW prices saw gains, though they weren’t as robust as their rival contracts in Chicago. The July HRW contract added 5.75 cents to close just under $4.89. The spread between Chicago and KC July contracts is now less than a penny.

Ongoing rain across portions of Kansas will likely delay harvesting in the state until next week.

Markets are preparing for tomorrow’s weekly export sales report from the USDA. The analysts’ range for new wheat crop sales ranges between 200,000 MT and 500,000 MT.

The September contract in KC gained 6.75 cents to close a tick under $5.06 per bushel.

Up in Minneapolis, July spring wheat prices added 3.25 cents to close just under $5.53. The September spring wheat contract added 2.75 cents to end the day above $5.63.

From: https://farmlead.com/blog/grain-markets-today/june-20-wheat-prices-pop-market-looks-for-bottom/

Previous Article Seeing what new research is breeding
Next Article Whether wheat weathers heat waves
Print

x
  • Interested in Purchasing Montana Wheat and Barley?
     
    View updated crop info, learn about grain quality and production, find export and transportation details, and meet Montana farmers.
    Read More
  • Checkoff dollars at work
     
    The Montana Wheat and Barley Committee is the checkoff organization for wheat and barley growers in the state, funded and directed by Montana producers.
    Read More
  • Outreach
     
    Press releases and presentations from the MWBC.
    Read More

 

Montana Wheat And Barley Fall Board Meeting 

Great Falls

October 03, 2018


Check out our new calendar