A market holiday
Market Line July 5, 2010 Futures exchanges and USDA Market News are closed today for the 4th of July holiday. On Friday USDA will issue its July crop production report along with update supply and demand numbers. Last Friday wheat futures put in another positive day. Lynn Smith with the Zaner Group says funds continued to buy. Smith: “Funds were buyers again. Bought four-thousand contracts of CBOT wheat. So they are getting out of some of their shorts. I think the report on corn gave them a good kick in the rear to get out of their contracts. They made some pretty good profits so not a bad time to do that.” On Friday Chicago September wheat up 3 ¼ cents at 5-03. September corn down ¾ of a cent at 3-72 ½. Portland soft white wheat and new crop August soft white steady at 4-60 to 4-65. Club wheat premium mostly 37 cents. HRW 11.5 % protein up six cents at 5-14. DNS 14% protein three to four cents higher at mostly 6-33. Cattle futures were mixed Friday. There was outside pressure from the stock market and the jobs report. The cash fed cattle market was steady last week but volume was seen as light. August live cattle down 47 cents at 89-47. August feeders up seven cents at 112-67. August Class III milk up two cents at 14-36. I’m Bob Hoff and that’s Market Line on Northwest Aginfo Net. Now this.
