Market Line for Feb 1

Market Line for Feb 1

David Sparks Ph.D.
David Sparks Ph.D.
I’m David Sparks _ filling in for Katie Gilkey with the Market Line Report for Monday February 1st”. According to Gary Kawslowski from the floor of the CME, China and Russia are backing away from some earlier commitments. It starts with soybeans and corn. “ A lot of concern with China that they have overbooked and they are starting to cancel with some of their inventories that they are holding out on, there are a lot of changes going on in the corn market too, we are seeing the China is canceling on the corn right now.” Now let's talk wheat. “Wheat market right now what we are looking at is so much inventory and we have the Russian ruble which has dropped off considerably in the last few weeks and Russia is easing the taxes on the exports.”

CME Reporter “NAME.” Info found here. PM livestock or Grain Commentary https://www.youtube.com/user/CMEGROUPTV

 

As far as livestock, again from the floor of the CME the week ended up with a wide range of prices on cattle and the month end inventories were looking to increase a little bit more with the cash market value being a little bit up over normal last week by a couple of dollars and inventories with the packers are still high and they suspect that prices will start to pull back this week.

 

Chicago March Wheat ended the day up 6, at 481 1/2. March corn ended yesterday dn 1/2, at 369 1/2. Found here http://www.aginfo.net/markets.cfm

 

In Portland on Friday March wheat futures closed 4.75 to 7.25 cents per bushel lower compared to last Thursday’s closes. Bids for US 1 Soft White Wheat delivered to Portland in unit trains

and barges for January delivery ordinary protein trended steady to seven cents per bushel lower than Thursday’s noon bids. Bids for 14 percent protein US 1 Dark Northern Spring Wheat for

January delivery were 4.75 cents per bushel higher compared to

Thursday’s noon bids.

 

 

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