Marketline Report for Monday, April 30th
This is Bob Larson with the Market Line Report for Monday, April 30th. Prices are up but questions remain on the grain market Friday. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Now, the wheat is also higher today and the bullish trend is remaining intact. I know that the weather troubles that we're having in the southern plains are still there. As we start to harvest, we're going to really see what the numbers are. Next Tuesday is going to tell the tale. The market is kind of surging and really going to end up on a positive note for this week for sure. And, I think that this weather is really helping a lot of the bulls, that U.S. Dollar Index not so much, really putting a lid on it. And, long-term, I know that the bears are still lurking in the wheat market so we have to watch that closely. But, any kind of poor numbers coming out of that winter wheat is going to send the market a lot higher."
Chicago May Wheat prices closed yesterday up 14 ¾ at 495
May Corn was up 3 ½ at 390 ½
Portland prices for soft white wheat of Ordinary Protein for June ended the day up 8 ranging from 5-80 to 5-90 ½ Hard Red Winter wheat with 11 ½ % protein, prices for April were up 20 ½ ranging from 6-52 ¼ to 6-72 ¼ DNS wheat with 14 % protein, prices for April were up 6 ¾ ranging from 7-41 ¼ to 7-81 ¼
Live Cattle for April were up $1.92 ½ at 124.72 ½ May Feeder cattle are up $1.72 ½ to 142.37 ½ May Class III milk was up .08 cents at 15.06
