Wednesday Not Very Merry For Wheat Markets

Wednesday Not Very Merry For Wheat Markets

I’m KayDee Gilkey with the Market Line Report for December 25, 2014.

 

Wheat prices were not very merry on Wednesday and ended the day lower on lack of buying support. Corn followed wheat lower. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.

Horwitz: “Wednesday grain saw mostly down across the board but I wouldn’t put much stock into what is going on in the market. It’s the holiday nobody cares, nobody is trading. The traders sat down in chairs all day. There is not a lot of activity to look at. I think that one of the key things to look at is wheat. Wheat was under pretty good pressure, I would look for wheat to work its way back down to the $6 level. Ukraine pulling away and being part of NATO by itself has created maybe some pressure into the markets.

Chicago March Wheat ended Wednesday down 24 cents at 6-11 and 1/2. March corn ended the day down 6 and 1/4 cents at 4-07 and 3/4.

Portland January prices for soft white wheat of ordinary protein were steady to down 24 cents ranging between 6-85 and 6-89 and 1/2. White club white had no price comparisons. Hard Red Winter wheat with 11.5 percent protein January prices were down 20 and 3/4 cents ranging between 7-29 and 7-39. DNS wheat with 14 percent protein January prices were down 10 to 69 cents ranging between 8-72 and 1/2 to 8-82 and 1/2.

February live cattle were down 2 and half cents on Wednesday at 160-57 and half. March Feeder cattle were down $2.55 at 212-72 and half. January class III milk was down 37 cents at 15-89.

 

 

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