Wheat Market Trades Higher

Wheat Market Trades Higher

I’m KayDee Gilkey with the Market Line Report for March 8, 2013. ?
Grain and soybean bids traded higher after losses posted Wednesday. Wheat and soybeans saw gains on better than expected export sales. Corn was up slightly despite negative export sales. From the floor of the CME Group Gary Kozlowski shares his observations.

Kozlowski: “The wheat -- the export numbers have been lower recently. The USDA number they expect those to come up anywhere from 703 from 691 million bushel range -- we’ll see how that plays out. Again everyone is looking at the USDA numbers and what is out there -- the numbers are always segued. Favorable outlook for the Chicago wheat production with the weather we’ve been having there is plenty of moisture in the ground. They are looking to starting planting in the very near future. It looks like they are going to have a pretty good start.”

Chicago May Wheat ended Thursday up 11and 3/4 cents at 6-95 and 1/2. May corn ended the day up 2 and 3/4 cents at 6-91 and 1/4.

Portland prices for soft white wheat and club wheat were up 8 and 1/4 to 10 and 1/2 cents at mostly 8-57 and 3/4. Hard Red Winter Wheat with 11.5 pct protein prices were up 20 cents at mostly 8-69 and 1/2. DNS wheat with 14 pct protein prices were up 17 to 22 cents at mostly 9-45 and 1/2. ??

April live cattle were down Thursday 50 cents at 128-30. April Feeder cattle were up 37 and half cents at 142-62 and half. April class III milk was down 15 cents at 17-23.