Wheat Higher on the Day

Wheat Market Higher on the Day

I’m KayDee Gilkey with the Market Line Report for Feb. 27, 2013. ?
Wheat markets traded higher on the day Tuesday with Chicago wheat leading the way. From the floor of the CME Group, Frank Lesh shares his observations of Tuesday’s markets.?
Lesh: “We’ve got India in here projecting the fifth year of record wheat production. IGC as well is giving us some bearish news -- they said world wheat production is expected to be up about 4 percent for the year. The drought monitor shows conditions are improving. some of this precip we have had here in the mid-west and southwest it certainly has to help. Not back to health but trying to get there.”
Chicago May Wheat ended Tuesday up 5 and 3/4 cents at 7-11. May corn ended the day up 9 and 1/4 cents at 6-94 and 3/4.??Portland prices for soft white wheat and club wheat were steady to up 10 and 3/4 cents at mostly 8-50 and 1/2. Hard Red Winter Wheat with 11.5 pct protein prices were up 1 and 1/2 to 2 and 1/2 cents at mostly 8-59 and 3/4. DNS wheat with 14 pct protein prices were up 10 and 1/4 to 15 and 1/4 cents at mostly 9-25 and 3/4. ??April live cattle were up Tuesday 87 and half cents at 129-30. April Feeder cattle were up 32 and half cents at 144-02 and half. April class III milk was down a penny at 17 even.