Marketline Report for Tuesday, June 25th
McGATHEY ... "KC wheat was leading the complex and really up well into the double digits. Interestingly enough, is that this rally with all the economic indicators and the fundamentals, really a point a bearish move in something a little bit lower. But, corn and beans are bringing it along. There is some dryness around the world that there could be some kind of issue. Now, there has been talk in the U.S. that the weather has been affecting some of the crops. In wheat, we really haven't got all that much information to understand how devastating it would be or what the actual numbers would be, but I think that it's got everybody a little bit long now and any shorts that were left have covered and starting to push the market higher. Maybe algorithms are also helping the market move."
Chicago July Wheat prices closed yesterday up 12 at 538
July Corn was up 4 ¾ at 447
Portland prices for soft white wheat of Ordinary Protein for Jun ended the day unch ranging from 5-75 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Jun were up 13 ranging from 6-15 ½ to 6-20 ½ DNS wheat with 14 % protein, prices for Jun were up 7 ½ ranging from 6-18 ½ to 6-28 ½
Live Cattle for Jun were up $.37 ½ at 107.05 Aug Feeder cattle are dn $1.90 to 131.80 Jun Class III milk was up .01 cents at 16.31