Good Export Markets Supports Wheat Market
Good Export News Supports Wheat Market
I’m KayDee Gilkey with the Market Line Report for Feb. 28, 2013. ?
The Pacific Northwest longshoreman's labor dispute is making headlines again. United Grain has locked the International Longshore Warehouse Union members out yesterday morning after an independent investigator found one of its employees sabotaging UGC equipment on the job in Vancouver. United Grain states that kept terminal open with replacement workers. From the floor of the CME Group Dan Basse shares
Basse: “A lot of talk about logistical problems in Brazil. We understand Santos is having problem with the rail line. Interior freight rates for the trucking community are sky high. We are hearing that rates are as much as $85 a ton compared to last week’s $45 a ton. That’s almost a doubling of truck traffic rates.”
Chicago May Wheat ended Wednesday up a penny at 7-12. May corn ended the day up a 1/2 of a cent at 6-95 and 1/4.??Portland prices for soft white wheat and club wheat were up a penny to a nickel at mostly 8-60 and 3/4. Hard Red Winter Wheat with 11.5 pct protein prices were up 1 and to 11 cents at mostly 8-62 and 3/4. DNS wheat with 14 pct protein prices were mixed down 2 and 1/2 to up 2 and 3/4 cents at mostly 9-28 and 1/2. ??April live cattle were up Wednesday 57 and half cents at 129-87 and a half. April Feeder cattle were up 35 cents at 144-37 and half. April class III milk was up a dime at 17-10.
