Markets Closed

 Markets Closed

I'm KayDee Gilkey with the Market Line Report for January 17, 2012.

Trading markets were closed yesterday. The feed grain market has given soft white wheat a nice boost. There have been several recent export sales of soft white for feed as well as some domestic use both in Oregon and Washington as well as California. Soft white wheat is gaining on some of the other markets like soft red wheat and corn. 

I visited with CLD Pacific Grain Senior Merchant Ty Jessup about what he is seeing in the feed wheat export market due to the price direction of corn.

Jessup: “Portland is seeing an increase in demand for feed wheat, overseas to primarily South Korea. PNW has a high quality crop this year and we shipping out number 1 and 2 grades on feed wheat vessels and it is just a function of/relationship of prices between wheat and corn.”

In case you missed Friday’s market numbers. March corn was down 12 cents at 5-99 1/2. March Wheat ended Friday down 2 3/4 cents at 6-02 and 1/4.

Portland prices for soft white wheat and club wheat were up 10 to 25 cents at mostly 6-20. Hard Red Winter Wheat with 11.5 pct protein was down 3 cents at mostly 7-25. DNS wheat with 14 pct protein was down 7 cents at mostly 9-24.

February live cattle were up $1.23 at 122-48. March feeder cattle were up 58 cents at 152-38. February class III milk was down 32 cents at 17-08.

I'm KayDee Gilkey with the Market Line Report on the Northwest Ag Information Network. Now this.