Wheat Market Has Slight Gains

Wheat Market Has Slight Gains

I’m KayDee Gilkey with the Market Line Report for March 25, 2013. ?
Wheat markets traded both sides of unchanged Friday as traders took profits ahead of the weekend and began to position ahead of this week's USDA report. From the floor of the CME Group Scott Shellady shares his observations of Friday’s markets.

Shellady: “Pretty tumultuous week ends on a quiet note, but some decent volatility spooked some guys out of the market today. We had everything pretty much back on its heels -- double digit losses across the board for grains in soybeans, corn and wheat. It didn’t look good -- but we’ve kind of had wheat rallied back to get back some of those losses and we still see the corn and beans are still suffering. But all in all we saw capital take flight form the grains getting ready for that report Thursday.”

Chicago May Wheat ended Friday up a penny at 7-29 and 3/4. May corn ended the day down 6 and 3/4 cents at 7-26 and 1/4.??

Portland prices for soft white wheat and club wheat were down 3 and 3/4 to 5 cents at mostly 8-49. Hard Red Winter Wheat with 11.5 pct protein prices were up a penny at mostly 9-01 and 1/2. DNS wheat with 14 pct protein prices were mixed down 1 and 1/4 to up 3 and 3/4 cents at mostly 9-51 and 1/2.

April live cattle were down Friday 22 and a half cents at 126-20. April Feeder cattle were down 25 cents at 138-05. April class III milk was down a penny at 17-58.