Wheat Mostly Higher on Friday
'm KayDee Gilkey with the Market Line Report for February 17, 2014.
Wheat was mostly higher. From the floor of the CME Group Greg Wagner shares his observations of Friday's markets.
Wagner: "Trade here on Friday in the meats — cattle were sharply lower. Interesting we had trade develop in the cash market in the cattle today of course yesterday as well as today, Friday. You are looking at roughly $1.41 to 1.42 down south in Kansas and trading in the panhandle in Texas. Then up north is $2.25 that would be in a dress basis on the rail — as they say. in about $1.41 to 1.42 in the cash market."
Chicago March Wheat ended Friday up 3 cents at 5-98 and 1/2. March corn ended the day up 4 and 3/4 cents at 4-45 and 1/4.
Portland prices for soft white wheat were mixed up a penny to down 4 and 1/4 cents at mostly 7-19 and 3/4. White club wheat prices were mixed up a penny to down 2 and 1/4 cents at mostly 7-72 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were up 1 and 1/4 to 16 and 1/4 cents at mostly 8-36. DNS wheat with 14 percent protein prices were up 1 and 1/2 cents at 8-54.
April live cattle were down $1.30 Friday at 141-10. March Feeder cattle were down 25 cents at 170.47 and half. March class III milk was unchanged at 21-04.
