Wheat Mostly Higher on Tuesday

Wheat Mostly Higher on Tuesday

I'm KayDee Gilkey with the Market Line Report for Wednesday, June 21st. From the floor of the CME Group here is Joe Vaclavik

Vaclavik: "Corn market was lower on Tuesday and has been under pressure this week. Weather patterns throughout the country's Corn Belt has turned favorable for the most part and have turned non-threatening. We're looking at some pretty widespread rainfall and some cooler temperatures during the next 10 days so so no major weather threat here. And when that is the case here in late June, you're going to see some pressure unto the market. The other thing aside from the weather is a big USDA report next Friday, the 30th. This is the Quarterly Stocks and Planted Acreage Report."

Chicago July Wheat prices closed Tuesday up 5 and 1/2 cents at 4-72 and 1/2. July corn ended the day down 5 and 1/4 cents at 3-70.

Portland prices for soft white wheat of ordinary protein ended the day steady to up 7 and 1/4 cents ranging from 4-85 to 5-17 and 1/2. Hard Red Winter wheat with 11.5% protein prices were up a 3/4 of a cent ranging from 5-49 and 1/4 to 5-69 and 1/4. June DNS wheat with 14 % protein prices were up 13 and 1/2 cents ranging from 7-56 and 1/4 to 7-71 and 1/4.

August live cattle were down 20 cents on Tuesday at 115-90. August feeder cattle were down $1.07 and half at 143-92 and half. August class III milk was down 15 cents at 16-73.

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