Market Line Report Thursday May 4th
This is Bob Larson with the Market Line Report for Thursday May 4th. Things have settled on the trading floor after a wild ride earlier in the week. With more from the floor of the CME in Chicago, here's Alan Knuckman ...
Knuckman ... "Lower highs today, 456, and lower lows, 446, than we saw on Tuesday after the surge. Things are stable after the big bump up where we saw an 8% jump over two days on the wild weather we've seen in the Midwest to bring wheat to a two month highs here yesterday. So, the weather woes and the major concerns over the wild winds and the snow and the blowing and the cold having a detrimental impact on the wheat harvest, the potential harvest, being now 25 % shorter than people had expected possibly. Again, we won't know until harvest, what damage has been done ."
Chicago May Wheat prices closed yesterday up 1 ½ at 440 ¾ May corn ended the day up 2 ¼ at 366
Portland prices for soft white wheat of Ordinary Protein for May ended the day up 1 ranging from 4-63 to 4-85 Hard Red Winter wheat with 11 ½ % protein, prices for May were dn 4 ½ ranging from 5-33 ¼ to 5-40 ¼ DNS wheat with 14 % protein, prices for May were up 3 ¾ ranging from 6-47 ¼ to 6-81 ¼
Live Cattle were up $3.00 at 130.05 May Feeder cattle were up $3.65 ½ at 153.50 Class III milk was up 02 cents at 15-35.
