Wheat Closed Mixed on Tuesday

Wheat Closed Mixed on Tuesday

I’m KayDee Gilkey with the Market Line Report for February 25, 2015.
Corn closed with slight losses, while wheat closed mixed Tuesday. From the floor of the CME Group, Joe Vaclavik shares his observations of Tuesday’s markets.
Vaclavik: “Grain markets here in Chicago finished the day mixed on Tuesday. We had a marginally lower trade in the corn market, a sharply higher trade in the soybean markets and a mixed finished in the wheat market. During this February time frame - -fresh fundamental news is kind of lacking. Wheat futures we did pick ups little bit of business, Egypt included the U.S. in a recent tender. They bought some hard red winter wheat here on Tuesday. That helped support the market here for a moment but did not have any real strong closes by any means. The Kansas City contracts were a little bit higher than Chicago contracts actually mixed to lower.”
Chicago May Wheat ended Tuesday down a 1/4 of a cent at 5-03 and 3/4. May corn ended the day down 1 and 1/4 cents at 3-85.
Portland March prices for soft white wheat of ordinary protein were steady ranging between 6-43 and 3/4 and 6-70. White club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were up 4 and 1/2 cents at mostly 6-33 and 3/4. DNS wheat with 14 percent protein prices were down 1 and 3/4 cents at mostly 8-56.
April live cattle were down $1.52 and half on Tuesday at 145-57 and half. April Feeder cattle were down $2.42 and half at 194-62 and half. April class III milk was up 13 cents at 15-25.

 

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