Marketline Report Thursday, July 6th
This is Bob Larson with the Market Line Report for Thursday July 6th. Trading resumes a day after the Fourth of July holiday. From the floor of the CME in Chicago with details, here's Virginia McGathey ...
McGathey ... "Today, wheat was lower for the first time in a while. Futures really started higher, but profit-taking kind of put a lid on the market and it really sent it a little bit lower. I think that we're looking at, today, Minneapolis hit a record 8-68 ½ . That also pulled the Chicago and Kansas City up to new one-year highs. There has been some profit-taking, but it still looks like the hot and dry conditions are going to remain so we expect that there's going to be big volatility the rest of the summer. So, watch out for that. Just because today was a little bit off doesn't mean this rally is completely over. So much is happening across the boards."
Chicago July Wheat prices closed yesterday up 2 ½ at 540 ½ July corn ended the day up 3 ¾ at 382
Portland prices for soft white wheat of Ordinary Protein for August ended the day dn 5 ranging from 5-50 to 5-68 Hard Red Winter wheat with 11 ½ % protein, prices for August were up 10 ranging from 6-39 ½ to 6-59 ½ DNS wheat with 14 % protein, prices for August were up 3 ¾ ranging from 9-19 ¾ to 9-34 ¾
Live Cattle for Auguste were dn $2.20 at 114.25 Aug Feeder cattle were dn $3.87 ½ at 143.27 ½ July Class III milk was up $.02 cents at 15-69.
