WEEKLY MARKET RE-CAP FOR APRIL 12, 2019

on May 19 | in Ag News | by | with Comments Off on WEEKLY MARKET RE-CAP FOR APRIL 12, 2019

Corn, soybean and wheat prices were all down slightly from the previous week.

For old crop corn, the Chicago future closed at $3.61 on Friday, down 1.5 cents from April 5.

The new crop future (Dec.19) closed at $3.89, down 1 cent. The Chatham-Kent (CK) high cash price was $4.66, down 1.5 cents. The new crop price was $4.79, down 1 cent. 

At the same time last year, the CK high old cash price was $4.69 and the new crop was $4.94.

The old crop soybean future in Chicago closed at $8.9525, down 3.75 cents from the previous week. 

For new crop, the Nov. 19 future closed at $9.2775, down five cents.

Most of the losses occurred on Thursday (April 11) in the wake of a weak U.S. export sales report. 

The CK high old crop price was $11.1525, down 3.75 cents. The new crop price – $11.4375 – was down 10 cents as the local basis was trimmed by another five cents. 

Last year, the CK high old crop price was $12.7575 and the new was $12.685.

For old crop wheat, the May future in Chicago was down 3.25 cents from the previous week at $4.6450 while the new crop future was down 1.25 cents at $4.685. 

The Grain Farmers of Ontario (GFO) Soft Red Winter Wheat cash price was down seven cents from the previous week at $6.05. 

The new crop price was off by four cents at $6.17. 

Wheat prices suffered moderate losses on Tuesday after the USDA’s Supply and Demand Estimates revealed higher than expected world and U.S ending stocks. The prices recovered some of the losses at the end of the week on weekend forecasts for heavy rainfall. 

Last year, the GFO Soft Red Winter Wheat cash price was $5.73. The new crop price was $5.95.

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