Wheat Market Gives Back Some of Previous Gain

It was the same old story in grains, the usual Friday back and forth. From the floor of the CME Group,Virginia McGathey shares her observations of Friday's markets.

McGathey: "Wheat had a big spike on the market with worries that this hard winter weather is going to do some damage to winter wheat that is already in the ground. We had a spike above 15 cents yesterday. Today we dropped all the way down 7 or 8 cents on the day giving everything back that we rallied yesterday. Kind of closed about 3 or 4 cents lower just right where we were two days ago. So the market closed down about that much."

Chicago March Wheat ended Friday down 4 and 3/4 cents at 5-65 and 1/2. March corn ended the day up a half of a cent at 4-29 and 1/2.??Portland prices for soft white white were down 4 and 3/4 cents at mostly 6-78 and 1/4. White club wheat prices were down 4 and 3/4 cents at mostly 7-12. Hard Red Winter wheat with 11.5 percent protein prices were mixed down a nickel to up 25 cents at mostly 7-77 and 1/4. DNS wheat with 14 percent protein prices were mixed down 4 and 1/4 to up 15 and 3/4 cents ranging between 8-33 to 8-63.

?February live cattle were down 52 and half cents Friday at 143-40. March Feeder cattle were down $1 even at 168-87 and half. February class III milk was up a dime at 22-45.