Wheat markets were boosted by Thursday’s U.S. Department of Agriculture’s Grain Stocks report, which contained bullish figures regarding the stockpile of wheat, especially compared to corn, soybeans and oats.
The wheat stockpile as of Sept. 1 was estimated to be 1,780 bushels. Kansas City hard red winter wheat (used primarily to make bread) gained the most, up nearly 34 cents per bushel. Chicago soft red winter wheat is used for cookies, cakes, and pastries.
By closing time Friday, December Chicago wheat was up 30 cents per bushel compared to last week, while December corn traded at $5.40 this week, and November beans were $12.50. Beans were actually down 33 cents compared to last Friday.
Pigs Fly While Cotton Soars
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