Wheat Down Slightly on Wednesday

Wheat Down Slightly on Wednesday

I’m KayDee Gilkey with the Market Line Report for April 23, 2015.
It was a rather weak market on Wednesday with wheat ending the day slightly lower. From the floor of the CME Group, Virginia McGathey shares her observations of Wednesday’s markets.
McGathey: “The grain market really has a very weak trade basically everything moving sideways. Let’s start with wheat — wheat rallied then came back down, $5 is really a pivotal number right now. We’re looking for other news to give it a boost — nothing so far. Corn, on the other hand, better weather now and the Corn Belt has speeded up the planting now even though we are a little bit behind overall. The market is still moving sideways. We are looking for a number for the next report now and we can’t quite get to that $4 level.”
Chicago July Wheat ended Wednesday down 1 and 1/4 cents at 4-99. July corn ended the day down a half of a cent at 3-79 and 1/2.
Portland prices for soft white wheat of ordinary protein were steady to down 2 cents at mostly 6-19 and 3/4. White club wheat of ordinary protein prices were steady to down 2 cents at mostly 7-89 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 1 and 3/4 cents at mostly 6-17. DNS wheat with 14 percent protein prices were down 1 and 1/2 cents at mostly 7-88 and 3/4.
June live cattle were down 70 cents on Wednesday at 146.02 and half. May Feeder cattle were down 22 and half cents at 206.75. May class III milk was down a penny at 16-44.

 

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