Marketline Report for Thursday, January 25th
This is Bob Larson with the Market Line Report for Thursday, January 25th. The grain market shows a lot of upside on Wednesday. From the floor of the CME in Chicago, here's Virginia McGathey ...
McGATHEY ... "Wheat also was soaring today. It seems that the funds have been caught short and covering those shorts really got that market rolling and I think it scared everyone especially because the fundamentals are on the side of wheat. We do have the dry weather in the South and Western Plains. We know that we've had the cold weather, the cold snap early on. As we get closer and closer to the harvest of the Winter wheat, we're going to find out if there's much damage to the crop."
Chicago March Wheat prices closed yesterday up 11 ½ at 432 ½
March corn was up 5 ¼ at 356 ½
Portland prices for soft white wheat of Ordinary Protein for January ended the day up 11 ½ ranging from 5-29 to 5-35 Hard Red Winter wheat with 11 ½ % protein, prices for January were up 9 ¾ ranging from 5-83 to 5-98 DNS wheat with 14 % protein, prices for January were up 3 ½ ranging from 7-23 to 7-43
Live Cattle for February were up $.70 at 125.67 ½ January Feeder cattle are dn $.47 ½ to 148.25 January Class III milk was up $.01 cents at 13.91
