KC Wheat Closes Up Nearly 20¢

At the close on Monday, May corn was up 2½¢ at $4.61 per bushel.

May soybeans closed down less than a penny at $10.15½ per bushel.

May CBOT wheat closed up 11½¢ at $5.68½ per bushel. May KC wheat was up 19½¢ at $6.05½. May Minneapolis wheat was up 13¼¢ at $6.15.

“Wheat made double-digit gains led by Kansas City futures, as more weather premium is being factored in,” said the Grain Market Insider newsletter by Stewart-Peterson Inc. “Warmth, dryness, and strong winds in the U.S. southern Plains remains a key focus, with 27% of U.S. winter wheat in drought — double last year’s level. A weaker U.S. dollar and higher MATIF wheat prices also provided support.”

June live cattle ended the day up $1.73 at $201.08 per hundredweight (cwt). May feeder cattle closed up $2.65 at $285.30 per cwt. June lean hogs closed up $2.83 at $99.13 per cwt.

A little past 3 p.m. CT, May crude oil was up 41¢ at $67.32 per barrel.

March S&P 500 futures were up 39 points. March Dow futures were up 376 points.

Published: 3:25 p.m. CT

KC Wheat Up 20¢: 9:12 a.m. CT

Ahead of 9 a.m. CT, May corn was up 6¢ at $4.64½ per bushel.

May soybeans were down 1¾¢ at $10.14¼ per bushel.

May wheat contracts were higher. CBOT wheat was up 15¼¢ at $5.72¼ per bushel. KC wheat was up 20¢ at $6.06. Minneapolis wheat was up 14¼ at $6.16.

Naomi Blohm, senior market advisor at Total Farm Marketing, said grains are being supported this morning by dryness in the U.S. Plains and the Black Sea region as well as news of a Chinese stimulus plan.

“China released a multi-faceted plan to try to boost consumer spending as their government is committed to reviving a sluggish economy,” she said.

June live cattle were up 50¢ at $199.85 per hundredweight (cwt) ahead of 9 a.m. CT. May feeder cattle were up $1.05 at $283.70 per cwt. June lean hogs were up $1.75 at $98.05 per cwt.

May crude oil was up 73¢ at $67.64 per barrel.

The U.S. Dollar Index June contract was down to 103.20.

March S&P 500 futures were up 29 points. March Dow futures were up 211 points.

Published: 9:12 a.m. CT