Marketline Report for Wednesday, February 13th
McGATHEY ... "If we do get a China-U.S. trade deal done, look for the corn market to really be the biggest beneficiary. Pretty strong rumors that China could buy 5-to-8-million tons of U.S. corn if a deal gets done. Keep in mind, that's 197-to-315-million bushels of corn that's not on the supply-demand balance sheet right now. If the deal done, China's likely to buy 300-million gallons of ethanol. That would be equivalent to about 107-million of corn. So, we're looking at demand possibly improving by 304-to-422-million bushels just on a China deal getting done with the U.S."
Chicago March Wheat prices closed yesterday up 1 ¾ at 520
March Corn was up 5 ½ at 377 ¾
Portland prices for soft white wheat of Ordinary Protein for Feb ended the day dn 15 ranging from 6-20 to 6-50 Hard Red Winter wheat with 11 ½ % protein, prices for Feb were dn 1 ¾ ranging from 6-47 to 6-62 DNS wheat with 14 % protein, prices for Feb were up 3 ½ ranging from 6-72 ¼ to 6-82 ¼
Live Cattle for Feb were dn $1.00 at 126.77 ½ Mar Feeder cattle are dn $.27 ½ to 144.35 Feb Class III milk was up .02 cents at 14.01