Wheat Market Down Slightly on Friday
I'm KayDee Gilkey with the Market Line Report for February 10, 2014.
It was a mixed grain market on Friday but all up for the week. From the floor of the CME Group Frank Lesh shares his observations of Friday's markets.
Lesh: "Grain trade on Friday was mixed markets. We had March corn up 1 and 1/4 but had wheat down 3 and 1/4 however, on the week we had corn up 10 cents and the wheat up as well up 22 cents. Wheat on a one-month high but there are sort of giving back. Wheat has got a problem — a lot of product out there and a lot of competition. That looks to be the case throughout the year."
Chicago March Wheat ended Friday down 3 and 1/4 cents at 5-77 and 1/2. March corn ended the day up 1 and 1/4 cents at 4-44 and 1/4.
Portland prices for soft white white were down 3 and 1/4 cents at mostly 7-03. White club wheat prices were down 3 to 3 and 1/4 cents at mostly 7-56 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up a half of a cent to 1 and 1/2 cents at mostly 8-03 and 1/2. DNS wheat with 14 percent protein prices were up 1 and 1/4 cents at 8-31 and 1/4.
April live cattle were up $1.32 and half Friday at 140-40. March Feeder cattle were up 80 cents at 167.80. March class III milk was down 33 cents at 20-72.
