Wheat Continues Higher

Wheat Continues Higher

I'm KayDee Gilkey with the Market Line Report for March 5, 2014.

Another strong day for the wheat markets on Tuesday. From the floor of the CME Group Jack Scoville shares his observations of Tuesday's markets.

Scoville: "Grains rallying across the boards here yesterday with the price leader was really was corn charging ahead. Mostly due to technical chart pace considerations as there really wasn't a heck of a lot of news to support the corn market. Reports out of the Ukraine indicating that corn and wheat shipments are proceeding normally. ADM and Bungee — two publicly traded houses with considerable interest over in Ukraine — saying that their employees are safe and that their port operations and all other parts of ag operations in that part of the world are really proceeding rather normally at this time."

Chicago May Wheat ended Tuesday up 12 cents at 6-43 and 1/2. May corn ended the day up 13 and 3/4 cents at 4-84 and 1/4.

Portland prices for soft white wheat were steady to up 12 cents at mostly 7-37 and 3/4. White club wheat prices were steady to up a dime at mostly 7-99 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 9 and 1/2 cents at mostly 8-63 and 1/2. DNS wheat with 14 percent protein prices were up 3 to 13 cents at 8-68 and 1/2.

April live cattle were up $1.50 Tuesday at 145-62 and half. April Feeder cattle were up $1.27 and half at 174.35. April class III milk was unchanged at 20-26.

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