Wheat Has Gains on Thursday

I’m KayDee Gilkey with the Market Line Report for March 7, 2014.

 

All wheat futures were up on Thursday. From the floor of the CME Group Frank Lesh shares his observations of Thursday’s markets.

 

Lesh: “Agricultural markets higher across the board today. Corn and wheat had new highs for this drives, beans got close but didn’t quite get there. February was a month that had a global spike in food prices and that was before the Ukraine problems had surfaced. Right now we have Ukraine stating that there should be no problems for their export markets. However, most of those exports go through the port of Crimea and we know what is going on with Crimea right now. Regardless of what happens with exports, it’s going to cost Ukraine more.”

 

Chicago May Wheat ended Thursday up 3 and 1/2 cents at 6-46. May corn ended the day up 9 cents at 4-91.

 

Portland prices for soft white wheat were steady to up a penny at mostly 7-35 and 1/4. White club wheat prices were unchanged to up a nickel at mostly 7-97. Hard Red Winter wheat with 11.5 percent protein prices were mixed down 2 to up 3 cents at mostly 8-64 and 1/4. DNS wheat with 14 percent protein prices were up 6 and 1/2 cents at 8-75 and 1/4.

 

April live cattle were down 52 and half cents Thursday at 143-15. April Feeder cattle were down $1.20 at 172-80. April class III milk was up 67 cents at 21-21.