Grains Traded Higher

Grains Traded Higher

I'm KayDee Gilkey with the Market Line Report for February 2, 2012.

The grains found support from a lower dollar and the higher outside markets. Wheat saw a boost from concerns of cold weather in Europe and Russia.  

From the CME floor, Dan Cekander of New Edge shares his observations of Wednesday’s market:

Cekander: “Markets traded higher on the grain side. We had several weather conditions that played into the price action. We had winter kill threats here in FSU with temperatures well below zero degrees Fahrenheit. The weather guys are saying that there was winter kill in probably one third of the Ukraine and maybe 15 percent of the Russia winter wheat area. Also now there is forecasts for cold weather --cold enough to get some winter kill in even Western Europe. They are saying about 15 percent of the French wheat crop could be susceptible to cold weather later this week.”

March corn was up 3 cents at 6-42. March Wheat ended Wednesday up 8 and 1/4 cents at 6-74 and a 1/4.

Portland prices for soft white wheat and club wheat was up about 5 to 25 cents to mostly 6-98. Hard Red Winter Wheat with 11.5 pct protein was up 7 to 10 cents at mostly 7-92. DNS wheat with 14 pct protein was up 9 cents at mostly 9-82.

April live cattle were up 65 cents at 129-23. March feeder cattle were up 33 cents at 155-85. March class III milk was down 31 cents at 16-25.

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