Grains Begin Week Slightly Higher

Grains Begin Week Slightly Higher

I’m KayDee Gilkey with the Market Line Report for March 24, 2015.
Grains begin the week slightly higher at Monday’s close. From the floor of the CME Group Todd Horwitz shares his observations of Monday’s markets.
Horwitz: “At the end of the day — as I’ve been saying here for quite a while - it doesn’t seem like there is a lot of room on the downside. Now there is some interesting things going on, obviously we’ve got the big report coming out. And people and firms are positioning themselves for this report. However, what I think what is happening here is that the commercials are pretty big short here and the problem here is that they are just not breaking from them. When we finally get the news — you might see a sharp quick break to the downside but overall the picture looks fairly good here.”
Chicago May Wheat ended Monday up 4 cents at 5-34. May corn ended the day up 5 and 1/4 cents at 3-90 and 1/4.
Portland prices for soft white wheat of ordinary protein were steady to up 4 cents at mostly 6-49 and 1/2. White club wheat of ordinary protein prices were steady to up 4 cents at mostly 8-89 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up a nickel at mostly 6-84 and 1/2. DNS wheat with 14 percent protein prices were up a 1/2 of a cent at mostly 9-even.
June live cattle were up $2.52 and half on Monday at 153-even. May Feeder cattle were up $3.27 and half at 218-67 and half. May class III milk was down 12 cents at 14-99.

 

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