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KayDee Gilkey Wheat Slips While Corn Remains Firm
by KayDee Gilkey, click here for bio

Program: Market Line
Date: April 14, 2017

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On Thursday, wheat futures slipped, while corn futures continue to climb. From the floor of the CME Group, here’s Virginia McGathey

McGathey: “Corn was firm today, it is really climbing and actually broke through a couple of resistance levels. Today again, certainly exports have been really good all long the way in spite of fact that we have a big crop looming from South America and we do have big stocks, the market still managed to have another rally here ahead of a three-day weekend so the market continues to look good. Planting is going to start next week, all bets are off for that because planting, getting it in the ground and weather will become an issue. So we will watch for that.”

Chicago May wheat prices closed the day down 3 and 1/2 to 4-29 and 3/4. Chicago May Corn prices were up 2 cents at 3-71. Portland prices for Soft White Winter Wheat of ordinary protein were steady to down 3 and 1/2 cents, ranging from 4-49 and 3/4 to 4-80. Hard Red Winter Wheat with 11.5 % protein, were down 2 and 3/4 cents, ranging from 5-07 and 1/4 to 5-17 and 1/4. DNS Wheat with 14 % protein, were up 1 and 1/2 cents, ranging from 6-25 1/4 to 6-65 1/4.

June Live Cattle finished Thursday up 35 cents, at 114-70. May Feeder cattle were up 57 and 1/2 cents, at $138.40. May class III milk was down 29 cents at 15-20.

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