Positive Wheat Markets Monday

Positive Wheat Markets Monday

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

The market opened near unchanged on Monday but quickly experienced active short-covering to drive the market moderately higher on the day into the mid-session.

From the floor of the CME, Greg Wagner with GWX Ag Advisors shares his observations of Monday’s markets.

Wagner: “We’re going to have a planning report, crop condition report coming out. We’ll see. We’ve made good progress with corn -- whether we or not break that 37 percent planted-as-of-this-date; that is the record of this date set back down in 2010. The market I think is starting to factor this. We’re going to look forward and keep an eye on where we are going with export sales and see what kind of lift we can get--particularly with the corn market.”

Chicago July Wheat ended Monday up 9 and 1/2 cents at 6-32 and 1/2. July corn was up 9 and 1/2 cent at 6-12 and 1/2.

Portland prices for soft white wheat and club wheat were unchanged to up 6 cents at mostly 7-04. Hard Red Winter Wheat with 11.5 pct protein prices were up 9 cents at mostly 7-48. DNS wheat with 14 pct protein was up a penny to 3 cents at mostly 9-38.

June live cattle ended down 88 cents at 114-58. August Feeder cattle were down $1.10 at 154-23. June class III milk was down 50 cents at 14-15.

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