Weaker Dollar Boosts Commodity Markets on Monday
I’m KayDee Gilkey with the Market Line Report for October 28, 2014.A lower dollar on the day helped boost commodity markets higher on Monday. From the floor of the CME Group Greg Wagner shares his observations of Monday’s markets.
Wagner: “Grain trade here in the grain complex here at the CME Group on Monday absolutely explosive. You’re looking at November soybeans closing at $10.06 — that is 28 and 1/2 cents. Soybean meals exploding over $26 higher in Decs Soy Meal. The corn market closes 10 cents high in December corn — new crop corn. And we’ve also got a nickel put on in the Wheat — kind of a lagger there.”
Chicago December Wheat ended Monday up a nickel at 5-22 and 3/4. December corn ended the day up a dime at 3-63.?Portland prices for soft white wheat were up a nickel at mostly 6-89 and 1/2. White club wheat prices were up a nickel at mostly 9-31. Hard Red Winter wheat with 11.5 percent protein prices were up a penny at mostly 7-47 and 3/4. DNS wheat with 14 percent protein prices were up 4 and 3/4 cents at mostly 9-17 and 3/4.
December live cattle were up 92 and half cents on Monday at 167-82 and half. November Feeder cattle were up 15 cents at 234-80. November class III milk was up 43 cents at 21-22.