Wheat Trades Mixed on Thursday

Wheat Trades Mixed on Thursday

I’m KayDee Gilkey the Market Line Report for Friday, May 26th. Wheat traded mixed and corn traded lower. Here is Allendale Brokers’ Cordon Sroka with a Thursday market update.

 

McGathey: “We’ve got relatively quiet markets today as we head into a three-day weekend with most markets trading lower as we wait for weather outlooks out of the holiday. We have outside markets trading mixed, stock market trading up was earnings continue to beat expectations. We have energy market reversing after a OPEC decision overnight to leave productions cuts until 2018. The trade is disappointed that they didn’t make further cuts there. So we’ve got lighter volume trade driving markets and things are probably going to remain pretty quiet into tomorrow.”

 

Chicago July Wheat prices closed Thursday down 1 and 3/4 cents at 4-30 and 3/4. July corn ended the day down 2 cents at 3-69 and 1/4.

 

Portland prices for June soft white wheat of Ordinary Protein ended the day unchanged to down 1 and 3/4 cents ranging from 4-80 and 3/4 to 4-89. Hard Red Winter wheat with 11.5% protein, prices for June were down 1 and 1/2 cents ranging from 5-06 and 1/4 to 5-16 and 1/4. June DNS wheat with 14 % protein prices were up 1 and 1/4 cents ranging from 6-62 and 1/4 to 6-87 and 1/4.

 

August live cattle were up $1.47 and half on Thursday at 121-40. August feeder cattle were up $2.45 at 151-12 and half. July class III milk was up 45 cents at 17-25.

 

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