Wheat Has Mixed Day Thursday

Wheat Has Mixed Day Thursday

I’m KayDee Gilkey with the Market Line Report for August 1, 2014.

Wheat contracts for Chicago ended mixed on Thursday however in Kansas City and Minneapolis contracts all ended higher. From the floor of the CME Group, Alexandra Lively shares.
Lively: “The market finally saw recent market trends in cattle and hogs flip very early in the session. Breaking from the higher cattle to the higher hogs, the hog market saw support early in the session while the cattle complex was under selling pressure. Both August fat and feeder contracts broke most traders second level of support early in today’s session and began nearing and some hitting limit down as the trade progressed. Most traders and analysts say that this break today does not really indicate a top being formed due to the very strong fundamentals still in the market.”
Chicago September Wheat ended Thursday up 3 cents at 5-30 and 1/4. September corn ended the day down 4 and 3/4 cents at 3-57.
Portland prices for soft white wheat were up 3cents at mostly 6-78 and 1/2. White club wheat prices were up 1 and 1/2 cents at mostly 7-46 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 8 and 3/4 cents at mostly 7-33 and 3/4. DNS wheat with 14 percent protein prices were up 3 and 1/4 cents at mostly 7-99.
October live cattle were down $2.60 on Thursday at 157-32 and half. September Feeder cattle were limit down $3 at 221-20. September class III milk was up 6 cents at 21-36.

 

 

 

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