Wheat Market Ends Mixed Friday

Wheat Market Ends Mixed Friday

I’m KayDee Gilkey with the Market Line Report for March 11, 2013. ?
Wheat futures ended mixed to mostly lower in Chicago, slightly lower in Kansas City and steady to lower in Minneapolis Friday. For the week, wheat futures extended their price slide. To halt the price slide, the wheat market needs fresh demand news. From the floor of the CME Group Kevin Craney shares his observations of Friday’s markets.

Craney “USDA report this afternoon actually really more of a neutral report. Pretty well received by the market, kind of in line with expectations. We did see wheat trading a little bit lower on the session. Higher production numbers possible according to the USDA for the wheat crop which is certainly something weighing on the wheat market and we will have to watch that as we move forward.”

Chicago May Wheat ended Friday up 1 and 1/2 cents at 6-97. May corn ended the day up 12 and 1/4 cents at 7-03 and 1/2.??Portland prices for soft white wheat and club wheat were up a penny to 6 and 1/2 cents at mostly 8-60 and 3/4. Hard Red Winter Wheat with 11.5 pct protein prices were down a 1/4 of a cent at mostly 8-70 and 1/4. DNS wheat with 14 pct protein prices were mixed down 3 and 1/2 to up 1 and 1/2 cents at mostly 9-45. ??April live cattle were down Friday 75 cents at 127-55. April Feeder cattle were down $1.27 and half at 141-35. April class III milk was down 3 cents at 17-20.