No Fireworks in the Markets on Thursday

No Fireworks in the Markets on Thursday

I'm KayDee Gilkey with the Market Line Report for July 4, 2014.

Thursday's commodities markets were relatively quiet ahead of the holiday as many traders may have started their long weekend early. From the floor of the CME Group, Alexandra Lively shares her observations of Thursday's markets.

Lively: "Wheat was under pressure but then began finding support from what traders tell me was a strong export sales report of this morning. Wheat exports were higher than most trade estimates with Brazil being the largest buyer. Marketing year wheat export sales now exceed the pace to met the USDA's target by 69 million bushels. The livestock market was higher. Fat cattle and feeders found support from record cash recorded at $158 in Kansas and Texas. This helped push both August fat and fed cattle past most traders upside objectives."

Chicago September Wheat ended Thursday up 4 cents at 5-79 and 1/2. September corn ended the day down 2 and 3/4 cents at 4-09 and 1/2.?Portland prices for soft white wheat were up4 to 6 and /14 cents at mostly 6-92. White club wheat prices were up 4 to 6 and 1/4 cents at mostly 7-42. Hard Red Winter wheat with 11.5 percent protein prices up 5 and 1/2 cents at mostly 7-81 and 1/4. DNS wheat with 14 percent protein prices were up 7 and 1/2 to 28 and 1/2 cents at mostly 8-55 and 1/2.

August live cattle were up $2.67 and half on Thursday at 155-00. August Feeder cattle were up $1.42 and half at 217-62 and half. August class III milk was up 20 cents at 20-58.

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