Wheat Lower on the Week

Wheat Lower For the Week

I’m KayDee Gilkey with the Market Line Report for Feb. 11, 2013. ?
Although the USDA report was considered bullish against trade estimates, wheat futures were unable to stave off heavy pressure from the other grain markets Friday. Futures at all three exchanges ended lower for the week.. From the floor of the CME Group, Kevin Craney shares his observations of Friday’s markets.
Craney: “Grain markets trading lower off the heels of the USDA Report that was out on Friday afternoon. When we looked at wheat, we saw some interesting numbers on wheat. We did see feed usage increase on wheat which really doesn’t happen a lot in a supply and demand report like this, we generally see it more in a quarterly stocks report. We did see here and holding up on some wheat prices as well.”
Chicago March Wheat ended Friday eking up by a 1/4 of a cent at 7-56 and a 1/4. March corn ended the day down 1 and 3/4 cents at 7-09.
Portland prices for soft white wheat and club wheat were steady to up a 1/4 of a cent at mostly 8-62 and 1/2. Hard Red Winter Wheat with 11.5 pct protein prices were mixed down 1 and 1/4 cents to up 3 and 3/4 cents at mostly 9-09 and 3/4. DNS wheat with 14 pct protein prices were down 3 cents at mostly 9-40 and 1/4. ??
April live cattle were down Friday $1.40 at 130-12 and half. March Feeder cattle were down $2.20 at 145 even. March class III milk was up 3 cents at 17-42.