Mostly Small Gains in Wheat Markets on Thursday

Mostly Small Gains in Wheat Markets on Thursday

I’m KayDee Gilkey with the Market Line Report for February 27, 2015.
Wheat markets had mostly slight gains by end of Thursday. From the floor of the CME Group, Jack Scoville shares his observations of Thursday’s markets.
Scoville: “Higher close across the board in the soybeans, corn and wheat. Soybeans were the leader to the upside with the truckers’ strike in Brazil really kind of forcing the price action. Some talk that we will see some of the sales Brazil had on the books moved to the United States. The other markets - corn and wheat — just tagging along. Especially wheat which had no good news. The news Thursday from the International Grains Council that wheat production prospects looked good for the coming year. Keeping that market under pressure for most of day before it begin to rally late in the day.”
Chicago May Wheat ended Thursday up 3 and 1/4 cents at 5-00 and 1/4. May corn ended the day up 4 and 3/4 cents at 3-88 and 1/2.
Portland March prices for soft white wheat of ordinary protein were mixed down a dime to up 2 and 1/2 cents ranging between 6-40 and 1/4 and 6-50. White club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down a penny at mostly 6-25 and 1/4. DNS wheat with 14 percent protein prices were down 1 and 1/2 cents at mostly 8-41 and 1/4.
April live cattle were up $2.95 on Thursday at 149-80. April Feeder cattle were up $3.20 at 199-05. April class III milk was up 28 cents at 15-49.

 

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