Marketline Report for Friday, July 5th
McGATHEY ... "That corn rally was just giving some support to the wheat futures because the wheat indicators are all truly bearish, yet the markets still rallied. We had four days of drop market in wheat and I think they just didn't want to have it five sessions in a row. We had a little bit of a turnaround, but that double-digit corn rally just carried the day for all of the grains actually. And, it's a short week and now we're going to have a hard opening on Friday so there will not be any evening session tomorrow night so that's going to be very interesting. So, we'll have a full day on Friday going in to finish off the first week of July. So, that should make things very interesting when Friday comes so we're going to watch that closely."
Chicago July Wheat prices closed yesterday up 14 ½ at 518 ½
July Corn was up 19 ½ at 432 ¾
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 5-75 to 6-08 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 11 ¼ ranging from 5-58 ¾ to 5-73 ¾ DNS wheat with 14 % protein, prices for July were up 3 ¾ ranging from 6-15 to 6-20
Live Cattle for Aug were up $1.35 at 106.00 Aug Feeder cattle are dn $1.80 to 137.02 ½ July Class III milk was dn .06 cents at 17.31