Choppy Market Day

Choppy Market Day

I'm KayDee Gilkey with the Market Line Report for February 6, 2012.

For the week, wheat futures posted solid gains. News Russia will not limit grain exports triggered profit-taking, but pressure was limited by ongoing concerns about winterkill in northern Europe and the Former Soviet Union (FSU).

From the CME floor, James Barnett Commodity Analyst with A Contrarian’s Dilemma shares his observations of Friday’s market:

Barnett: “A mix day here across the floor. Soybeans able to stay some pretty good gains up 16 cent on the day. Corn was up about a penny and wheat down about 4 cents on the session. A pretty choppy day. Soybeans were able to come back and hold most of their gains. We also had early gains on both corn and wheat pulled back. A choppy day to a end a fairly choppy week as a whole.”

March corn was up 1 and 1/2 cents at 6-44 and 1/2. March Wheat ended Friday down 2 cents at 6-60 and 3/4.

Portland prices for soft white wheat and club wheat were unchanged at mostly 6-97. Hard Red Winter Wheat with 11.5 pct protein was down a nickel at mostly 7-82. DNS wheat with 14 pct protein was up 3 cents at mostly 9-84.

April live cattle were down $1.50 at 127-40. March feeder cattle were down 93 cents at 154-45. March class III milk was up 7 cents at 15-89.

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