Marketline Report for Wednesday, March 20th
ROGGENSACK ... "Commitments of traders as of March 12th, managed money funds holding a record net short position of 257-thousand contracts. Open interest up 44,000 contracts since March 12th so funds could be even bigger net short in the market. If we see China take seven million tons of U.S. corn, three million tons of ethanol, that would push demand up by 557-million bushels. That could pull ending stocks down again to 880-million bushels carryout which is very tight historically."
Chicago May Wheat prices closed yesterday dn ¼ at 456 ½
May Corn was dn ¼ at 371 ¼
Portland prices for soft white wheat of Ordinary Protein for Mar ended the day unch ranging from 5.90 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Mar were dn ¾ ranging from 6-10 ¾ to 6-25 ¾ DNS wheat with 14 % protein, prices for Mar were up 4 ½ ranging from 6-75 ¼ to 6-90 ¼
Live Cattle for Apr were up $.80 at 129.20 Mar Feeder cattle are up $.60 to 142.25 Mar Class III milk was up .01 cents at 14.93