Active but Lower Markets

Active but Lower Markets

Active but Lower Markets. I’m Greg Martin. This is Market Line

Market Line November 13, 2009

It was an active day on the markets but for all the bouncing around most grains closed down slightly on the day.

GARTNER: Also part of the strength today in wheat of course was the announcement of the CME that they will finally be making one more effort to encourage convergence between cash and futures at delivery. Of course now with the variable storage rates there’s plenty of debate if that is going to be effective but certainly the markets took that as positive.

 

Egypt’s state-owned wheat buyer, the General Authority for Supply Commodities, or GASC, said Thursday it bought 295,000 metric tons of Russian wheat all for $191.37 on a free-on-board basis.

On Thursday Chicago December wheat unchanged

December corn closed down 3 ½ at 390 1/2

Portland soft white wheat 4.85 – 4.95 up 3 to unchanged
 
Club wheat mostly 8.15 ranging 6.90 to 8.40

HRW 11.5 % protein mostly 5.69

DNS 14% protein mostly 6.94

December live cattle closed down .8 at 82.850

January feeders down .975 at 92.50

December Class III milk at 14.32

I’m Greg Martin and that’s Market Line on the Northwest Ag Information Network.

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