Price Report - April 17, 2014
Wheat futures closed higher this week after freezing temperatures swept through the southern U.S. Plains wheat belt where crops are already stressed by drought conditions. Escalating political tension in the Ukraine’s wheat export region also pushed futures higher. Strong U.S. export sales, which were much higher than expected, supported markets on Thursday. KCBT May led nearby wheat contracts, up 36 cents to $7.58/bu. MGEX added 31 cents to $7.33/bu and CBOT closed 29 cents higher at $6.91/bu. CBOT May corn fell 7 cents to $4.95/bu and CBOT May soybeans gained 32 cents to $15.14/bu. Markets will be closed on Friday.