Marketline Report for Monday, February 18th
McGATHEY ... "But, wheat, on the other hand, really fell. The futures just raced to that $5 mark\. You know, in two days we were down .25 cents. It seems that yesterday's Valentine's Day Massacre opened up the flood-gates and we had continued follow-through selling that pushed the market lower, but then it just kind of stopped so we know that $5 is a real benchmark here and a very big support number and it's held so far. So, we'll see. The export sales have been slow and they're well behind last year and it just seems the fewer acres that are going to be planted just have not really had any impact on the market, but today not enough. So, we have a long weekend coming up and I think everyone kind of gave up the ship a little bit and we're going to restart it again on Tuesday. A short week next week. We could have a lot more volatility."
Chicago March Wheat prices closed yesterday dn 2 ¾ at 503 ¼
March Corn was unch at 374 ¾
Portland prices for soft white wheat of Ordinary Protein for Feb ended the day dnch ranging from 6-20 to 6-50 Hard Red Winter wheat with 11 ½ % protein, prices for Feb were dn 5 ranging from 6-31 ½ to 6-46 ½ DNS wheat with 14 % protein, prices for Feb were dn 1 ¾ ranging from 6-68 to 6-78
Live Cattle for Feb were up $.50 at 126.65 Mar Feeder cattle are dn $1.47 ½ to 142.80 Feb Class III milk was dn .01 cents at 13.97