Grains Finished Mixed on Friday

Grains Finished Mixed on Friday
I'm KayDee Gilkey with the Market Line Report for January 9, 2012.

The wheat market saw an early bounce led by strength in the other grains. However, a jump in the US dollar and weak export news helped to spark a set-back and settled on mixed by market’s close.

In addition to the traders closely watching South America’s weather forecast, Kevin Craney of the RJO Futures reports:

Craney: “You had a firmer dollar today and it was hard for the grains to certainly hold the strength that it once had in the morning session. Going forward into next week I think certainly trade is looking forward to the USDA report that is going to be out on Thursday. We are going to get production numbers --final production numbers--for 2011 as well as feed useage and export numbers. At the moment I think any weakness in the grains will be met with some real support of the end user that are going to be trying to lock in prices particularly until we find out how this weather pattern in South America has affect production overall.”

March Wheat ended Friday down 4 1/2 cents at 6-24 3/4. March corn had no change at 6-43 1/2.

Portland prices for soft white wheat and club wheat were unchanged to mostly 6-15. Hard Red Winter Wheat with 11.5 pct protein was down 6 cents at mostly 7-33. DNS wheat with 14 pct protein ranged down 23 to 28 cents at mostly 9-29.

February live cattle closed down 63 cents at 120-33. March feeder cattle were down 98 cents at 149-88. February class III milk was up 6 cents at 17-75.

I'm KayDee Gilkey and that's Market Line on Northwest Aginfo Net. Now this.