Range Bound Markets Lack Volatility

Range Bound Markets Lack Volatility

Range Bound Markets Lack Volatility

I'm KayDee Gilkey with the Market Line Report for January 24, 2012.

All the grains closed toward the higher end of their range on Monday with a strong market driver being Argentina’s weekend weather which had wider than expected rain coverage that propelled prices during the day.

Kevin Craney of RJO Futures discusses Monday’s market:

Craney: “We look at the rest of the week moving forward it is the Chinese New year this week. So we do see a little bit of the demand coming out to the market with some of buyers being away. With that said, we are seeing some of the volatility come out of the market and we are looking more range bound -- we are at the top end of the range right now. So with lighter volume and weaker, maybe, exports coming in later in the week. We could very well see follow-through buying with a little less volume coming into the market. ”

March corn was up 8 and 1/2 cents at 6-20. March Wheat ended Monday up 9 and 1/4 cents at 6-19 and 3/4.

Portland prices for soft white wheat and club wheat were up a nickel mostly 6-33. Hard Red Winter Wheat with 11.5 pct protein was up 7 cents at mostly 7-38. DNS wheat with 14 pct protein was up 4 cents at mostly 9-33.

February live cattle were up a nickel at 124-60. March feeder cattle were were down 10 cents at 153-75. February class III milk was down 31 cents at 16-28.

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

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