Wheat Up Slightly on Monday

I’m KayDee Gilkey with the Market Line Report for April 29, 2014.

 

Wheat closed mostly unchanged to up 7 and 1/2 cents. From the floor of the CME Group, Greg Wagner shares his observations of Monday’s markets.

Wagner “Wheat market mixed bag here in Chicago just nominal gains. Stronger gains in Kansas City up over 7 cents and Minneapolis wheat up over 4 cents. Wheat is being supported by problems —risk premium due to by ongoing problems in Ukraine that is supporting wheat. The wheat Quality Council tour kicks off today in Kansas moving to Oklahoma. The trade is going to be watching that very closing — its a credible tour that is going to tell the condition of the crop as well as the production estimates.”

Chicago July Wheat ended Monday up a 1/4 of a cent at 7-08 and 1/2. July corn ended the day up a penny at 5-13 and 3/4.

Portland prices for soft white wheat were unchanged to up a 1/4 of a cent mostly 7-84 and 1/2. White club wheat prices were unchanged at mostly 8-44 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 6 to 7 cents at mostly 8-91 and 1/2. DNS wheat with 14 percent protein prices were mixed down 4 to up 4 cents at mostly 8-88 and 1/2.

 

June live cattle were up a nickel on Monday at 136-82 and half. August Feeder cattle were up $1.72 and half at 186-35. June class III milk was down 18 cents at 20-65.