Marketline Report for Friday, June 14th
SHELLADY ... "Let's talk about WASDE. WASDE's the one we've all been watching the last couple of days. We got some bullish numbers, right? They lowered the yield, lowered production, lowered carry out. What does that mean to you, right? That's going to mean things are tighter and the markets reacting like it should. It took a little while for it to get through. However, we've seen corn again up .10-.12 cents today. That's the right thing to do on the back of the fact of the numbers we got and with a wet crop like that it's going to be a while before we know exactly what we're dealing with. We got new crop corn settling on its highs today and if that looks as though, if you're a technician, it could open the door up to maybe even trading higher up to that $4.85 level. So, keep an eye on that. Traded up to high, settled on highs, that's very strong. And it looks as though the managed money, the spec money out there, is on to a winner."
Chicago July Wheat prices closed yesterday up 9 ¼ at 536 ¼
July Corn was up 12 at 441 ½
Portland prices for soft white wheat of Ordinary Protein for Jun ended the day unch ranging from 5-75 to 6-20 Hard Red Winter wheat with 11 ½ % protein, prices for Jun were up 5 ½ ranging from 6-18 ¼ to 6-43 ¼ DNS wheat with 14 % protein, prices for Jun were up 1 ½ ranging from 6-46 ¼ to 6-56 ¼
Live Cattle for Jun were dn $.60 at 109.15 Aug Feeder cattle are dn $1.57 ½ to 136.12 ½ Jun Class III milk was dn .02 cents at 16.30