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Monday Market Report: Local grain in the black!

By: Jake Putnam
Published in Podcast on  August 30, 2021

Good Monday morning…there's a hint of fall in the morning temps across the state, we have a couple of warm days ahead and then cooler temps for Labor Day weekend.

It’s 54 degrees this morning in Boise and Treasure Valley. It’s a  refreshing 52 in Poky a bit cooler in IF at 50 and 55 in TwinFalls, CDA 54.

Corn Futures traded red early on Friday, but firmed up and open 5 1/4 cents in the black. September corn opens the largest gainer, at $5.58/bu. 

Sep 21 Corn opens at $5.58 3/4 up a quarter.

Friday’s wheat session reversed the mixed action seen earlier in the week as spring wheat opens with gains to winter wheat’s losses. Hard Red Spring futures open  2 to 6  cents higher, with Sept gaining almost 8 cents. Chicago SRedWinter prices open the session with 2 cent givebacks. Sept SRW opens 4 cents above last week. KC wheat opens with 2 to cent losses for the front months. Sept HRW is 10 cents above last week's open.

Right now

Sep 21 CBOT Wheat opens at $7.18, down 6 cents.

Over in Blackfoot prices open up in the black:

 | - Soft White Wheat | 7.74 | Up 5
 | - Hard Red Winter | 7.40 | Up 8
 | - DNS 14% | 8.06 | Up 2
 | - Hard White | 7.50 | Up 8

Going into the weekend the cattle complex was mixed. Fat cattle opens in the red through April of ’22 futures, while feeders open higher. Losses for finished cattle futures are down $1.27 in August ahead of next Tuesday’s expiration, but losses are just a nickel by Feb ’22 futures. Cash trade last week was light with sales from $125 to $130 in the North and a few $121 - $123 in the South. Gains for the feeder cattle futures are limited to 42 cents with Jan of ’22 the strongest of the front months. The CME Feeder Cattle Index is another 60-cents stronger to $159.39.     

Milk prices open up at $15.98 per hundredweight…down 3 cents from last Monday.

World Sugar stands at 20 cents per pound, that’s up a percentage point from last week.

Heating oil is at 55.74 and gaining for Labor Day weekend.

Hay is still going strong—

Supreme going for $220 per ton

Timothy about the same—

Premium          $ 200                

Good                   $170   

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

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