Solid Gains For Wheat and Corn

Solid Gains For Wheat and Corn

Solid Gains For Wheat and Corn

I'm KayDee Gilkey with the Market Line Report for January 26, 2012.

Wheat had strong buying support on a lower dollar and being competitive on the world market. Gary Wagner of GWX Ag Advisors shares his observations of Wednesday’s market:

Wagner: “A big driver in this market, keep in mind, what is going on in the Euro and what is going on in the dollar. The dollar has dropped about 3 percent off its highs which were made Jan. 13th. That is also could be an important consideration. And shoring up the European Financial Stabilization Fund with Germany as the leader is also changing the dynamic of this market and we still have weather problems in South America. We are right near resistance levels in a lot of these markets -- we’ve had a good run. I wouldn’t be surprised to see a pull back near term.”

March corn was up 4 and 1/4 cents at 6-34 and 1/2. March Wheat ended Wednesday up 7 and 3/4 cents at 6-41 and 1/4.

Portland prices for soft white wheat and club wheat remained unchanged at mostly 6-55. Hard Red Winter Wheat with 11.5 pct protein remained about the same at a range between 7-50 to 7-56. DNS wheat with 14 pct protein was down about 8 cents at mostly 9-28 to 9-33.

February live cattle were up a nickel at 125-85. March feeder cattle were were up 13 cents at 155-00. February class III milk was up 8 cents at 16-58.

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

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