Marketline Report for Tuesday, April 16th
McGATHEY ... "Now wheat was lower today. The U.S. just cannot compete with the prices of Russian and it makes it very difficult for us to move anything. That's one of the reasons why we even lost that Egyptian sale, but the export numbers were out, those inspection estimates are way lower than we thought and the blizzard could even move some acres and change it a little bit, but even looking at that, if we lose a million acres we still have so much wheat in stock right now that it won't really hit us that hard. That's why we're kind of just hovering and consolidating and even though today the market pushed a little bit lower, Kansas City even further than the Chicago wheat."
Chicago May Wheat prices closed yesterday dn 5 at 459 ½
May Corn was up 1 ¾ at 362 ½
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 7 ranging from 5-97 ¼ to 6-22 ¼ DNS wheat with 14 % protein, prices for Apr were up ½ ranging from 6-36 ¾ to 6-46 ¾
Live Cattle for Apr were dn $.25 at 126.30 Apr Feeder cattle are up $.25 to 145.70 Apr Class III milk was dn .01 cents at 15.91