MARKET RECAP – MAY 24, 2019

on May 24 | in Ag News | by | with Comments Off on MARKET RECAP – MAY 24, 2019

Corn, soybean and wheat prices were up from the previous week, with big gains coming in the corn and wheat markets. Planting delays and forecasts for more wet weather this week continued to support the grain prices.

For Old Crop Corn, the Chicago future closed at 4.04 Friday, up almost 21 cents from May 17. The new crop future (Dec.19) closed at $4.20, up 22 cents.

The Chatham-Kent (CK) high cash price was $5.19, up 26 cents. The new crop high price was $5.15, up 27 cents. According to Farm Market News data, this was the highest closing new crop price since June 14, 2016 when it was $5.17.

At the same time last year, the CK high old cash price was $4.89 and the new crop was $5.03.

The old crop soybean future in Chicago closed at $8.30, up 8 cents from the previous week. For new crop, the Nov. 19 future closed at $8.56, up 9 cents. 

The CK high old crop price was $10.35, up 8 cents. The new crop price was also up 8 cents at $10.56.

Last year, the CK high old crop price was $12.86 and the new was 12.94.

For wheat, the July future in Chicago was up 25 cents from the previous week, closing at $4.90.

The Grain Farmers of Ontario (GFO) Soft Red Winter Wheat cash price was up 33 cents at $6.44. The new crop (Harvest 2019) price was also up 33 cents at $6.51. 

Last year, the GFO Soft Red Winter Wheat cash price was $6.47; the new crop price was $6.57.

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