All Grain Markets Up on Friday

 All Grains Markets Up on Friday

I'm KayDee Gilkey with the Market Line Report for May 28, 2012.

Weather concerns and less negative sentiment from outside markets helped to support the early rally and the push above Thursday's highs on Friday. From the floor of the CME Group, Chris Robinson with Top Third Ag Marketing shares his observations of Friday’s markets.

Robinson: “So in front of the long weekend, quite a lot of volatility we have the holiday weekend. When we come back in on Tuesday morning it could be very, very interesting. Just tremendous volatility in the grains, and it is going to be interesting to see what happens. If we get some good rains over the weekend, or they put the rain in the forecasts you can see some more downward pressures especially in corn and possibly in beans. If we don’t get the rain in the forecast, we are going to be right bak where we were beginning of last week.”

Chicago July Wheat ended Friday up 12 cents at 6-75. July corn ended the day unchanged at 5-78 and 1/2.

Portland prices for soft white wheat and club wheat were up a nickel to a dime at mostly 7 even. Hard Red Winter Wheat with 11.5 pct protein prices were up 13 cents  at mostly 7-93. DNS wheat with 14 pct protein prices were between down 4 cents and up 11 cents at mostly 9-24. 

August live cattle ended down 70cents at 119-10. August Feeder cattle were down 35 cents at 158-50. July class III milk was up 37 cents at 16-35. 

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