Corn and Wheat Lower on Monday

Corn and Wheat Lower on Monday

I’m KayDee Gilkey with the Market Line Report for January 27, 2015.
Corn closed lower on favorable crop conditions in South America while wheat had losses on weak export demand with plentiful world supplies. From the floor of the CME Group, Alexandra Lively shares
Lively: “There are reports of Russian troops advancing on the strategic port of Mariopli which wheat traders tell me could support. However, several Central Bank’s statements and actions sent the U.S. dollar index soaring to its highest level since 2003 and traders tell me that had investors pulling money out of the commodity sector last week and could foreshadow trade this week as well. The U.S. Federal Reserve will release their statement Wednesday afternoon which traders tell me could cause additional shifts in assets or reversal into more safe havens.”
Chicago March Wheat ended Monday down 9 and 1/2 cents at 5-20 and 1/2. March corn ended the day down 2 and 3/4 cents at 3-84.
Portland February prices for soft white wheat of ordinary protein were up 27 to 45 cents ranging between 6-45 and 6-90. White club wheat of ordinary protein prices had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices down 9 and 1/2 cents at mostly 6-47 and 1/2. DNS wheat with 14 percent protein prices were down 7 cents at mostly 8-32.
April live cattle were down 80 cents on Monday at 148-even. March Feeder cattle were down $1.85 at 199-97 and half. March class III milk was up 2 cents at 14-86.

 

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