Grains Surge on Export Demand

Grains Surge on Export Demand

I'm KayDee Gilkey with the Market Line Report for March 16, 2012.?

Thursday was a very positive day in the grains market. From the floor of the CME, Greg Wagner with GWX Ag Advisors shares his observation’s of Thursday’s markets.

Wagner: “It was a dynamic day. Every single market closing strongly, closing in the green. Alright what really propelled the market higher here again dynamic export sales. Corn, soybeans, wheat all on track to meet or exceed USDA current targets for market year here. Looking forward, the market is going to be continuing to trade. Our best barometer our weekly export sales. Don’t look for much of a pullback going into the report next Friday.

Chicago May Wheat ended Thursday up 21 cents at 6-64 and 3/4. July new crop was up 18 cents at 6-72 and 1/2. May corn was up10 and 1/4 cents at 6-69.

Portland prices for soft white wheat and club wheat were not fully established but were at mostly 7-13. Hard Red Winter Wheat with 11.5 pct protein price was not fully established at a range of 7-84 to 7-89. DNS wheat with 14 pct protein price was not fully established at a range of 9-56 to 9-61.

April live cattle were down $1.45 at 125-58. April Feeder cattle were down$1.23 at 156 even. April class III milk was up 26 cents at 15-95.

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