Rough Day on the Markets

I’m Greg Martin with the Market Line Report for March 28, 2013.?

Getting ready for the Easter weekend saw some large changes in the market before the Good Friday closing. Scott Shellady with the Trean Group said a lot of people were searching for an excuse.

SHELLADY: Well Thursdays report was a shocker. We don’t see too many days like that. For our producers, it’s not good. The market you saw was well off. You had corn more than limit down. Corn traded almost 60-cents lower on the day even though the limit was 40-cents. I think that ultimately that’s really going to put a dent if you were a bull.

Now checking some prices:

Chicago May Wheat ended down 49 cents at 6-87 and 3/4.

May corn ended the day down 40 cents at 6-95 and 1/4.

Portland prices for soft white wheat and club wheat were unavailable.

Hard Red Winter Wheat with 11.5 pct protein prices were down 47.25 at mostly 8-67.

DNS wheat with 14 pct protein prices were down 32.75 at mostly 9-23.

April live cattle were up $1.55 at 128-9.

April Feeder cattle were up $3 at 143-40.

April class III milk was down 21 at 17-26.

Markets are closed today for the Good Friday observance.

I’m Greg Martin and that’s Market Line on Aginfo Net.