Marketline Report for Wednesday, April 17th
ROGGENSACK ... "Supply and demand fundamentals looking pretty bearish short-term. Increasing South American supply plus lower than expected demand because of the problems with the pig herd in China. Now, China government reporting 18% down from a year ago as of March. Massive ending stock projections for the U.S. also a key bearish factor. September 1st stocks expected 895-million bushels. Traders gotta remember that's from 435-million last year and also exceeds the previous record of 574-million bushels."
Chicago May Wheat prices closed yesterday dn 14 ½ at 445
May Corn was dn 3 ¾ at 358 ¾
Portland prices for soft white wheat of Ordinary Protein for Apr ended the day unch ranging from 5-90 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for Apr were dn 10 ¼ ranging from 5-87 to 6-12 DNS wheat with 14 % protein, prices for Apr were dn 4 ½ ranging from 6-32 ¼ to 6-42 ¼
Live Cattle for Apr were up $.85 at 127.20 Apr Feeder cattle are up $.02 ½ to 145.72 ½ Apr Class III milk was up .03 cents at 15.92