Wheat Higher on Weather Concerns

Wheat Higher on Weather Concerns

I’m KayDee Gilkey with the Market Line Report for April 2, 2015.
Weather concerns helped boost wheat prices higher on Wednesday. Henry Kornegay of Jackson Commodities gives an update of Wednesday’s markets.
Kornegay: “It appears to us that wheat to the pressure yesterday following the corn market down. The wheat came back today on news of dry conditions of the Southern Plains. There is some systems that are suppose to go through there but there is also anticipation that they will miss the biggest portion of Western Kansas, Oklahoma and Eastern Colorado area. That brought the buying back into the wheat market this morning and we ended up closing KC at 12 higher, Chicago July up 15 and 1/2 at $5.29 and the spring wheat in Minneapolis for July closed up 14.”
Chicago July Wheat ended Wednesday up 15 and 1/2 cents at 5-29 and 1/2. July corn ended the day up 5 and 3/4 cents at 3-90.
Portland prices for soft white wheat of ordinary protein were up 30 and 1/4 to 68 and 1/2 cents at mostly 6-73 and 1/2. White club wheat of ordinary protein prices were up 28 and 1/2 to 30 and 1/4 cents at mostly 8-99 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 12 and 3/4 cents at mostly 6-86. DNS wheat with 14 percent protein prices were up 14 and 1/2 cents at mostly 9-00 and 1/2.
June live cattle were down a dime on Wednesday at 152-22 and half. May Feeder cattle were down 25 cents at 216-65. May class III milk was down 26 cents at 15-62.

 

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