Mixed Trade in Wheat Market

Mixed Trade in Wheat Market

Mixed Trade in Wheat Market 

 

I’m KayDee Gilkey with the Market Line Report for Sept. 21, 2012.

December Chicago wheat traded mixed Thursday seeing support from dry weather in Australia and areas of the western US plains. Pressure from a sharply lower soybean market limited gains. The wheat market brushed off the weak corn and soybean market on thoughts that Russia will begin to slow its export pace in October and on dry weather in Australia. Russia continues to undercut the global market with cheap wheat which has hampered the sales pace of other major exporters. From the floor of the CME Group, Kevin Craney gives his observations of Thursday’s markets.

Craney: “Grain markets trading lower on the day. We see continued profit taking in both corn, soy and wheat as well.”

Chicago December Wheat ended Thursday down 2 cents at 8-79 and 1/2. December corn ended the day down 10 and 1/2 cents at 7-46.

Portland prices for soft white wheat and club wheat were up 4 1/2 to 13 1/2 cents at mostly 8-78 and 1/4. Hard Red Winter Wheat with 11.5 pct protein prices were down a half cent at mostly 9-49 and 1/2. DNS wheat with 14 pct protein prices were down 1 and 1/2 cents at 9-90 and 1/2. 

October live cattle were down Thursday 60 cents at 125-75. October Feeder cattle were down 28 cents at 146-73. October class III milk was down 2 cents at 20-28.

 

I’m KayDee Gilkey with the Market Line Report on the Northwest Ag Information Network. Now this.   

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