Wheat Market Choppy and Ends Lower
Wheat Market Choppy and Ends Lower
I’m KayDee Gilkey with the Market Line Report for April 5, 2013. ?
Wheat futures saw a choppy day of trade. Spillover from corn, strength in the U.S. dollar index and a disappointing weekly export sales tally weighed on the wheat market. From the floor of the CME Group, Greg Wagner shares his observations of Thursday’s markets.
Wagner: “We’re still seeing repercussions and the reverberations that grain stocks report. It wasn’t the planning intentions report it was really the grain stocks report that really knocked this market back on its heels. You’ve got double digit loses in the old crop corn and old crop soybeans and it looks like the wheat market is coming up essentially unchanged.”
Chicago May Wheat ended Thursday down 2 and 1/4 cents at 6-94. May corn ended the day down 11 and 1/2 cents at 6-30.??Portland prices for soft white wheat and club wheat were steady to down 1 and 1/2 cents at mostly 8-04 and 3/4. Hard Red Winter Wheat with 11.5 pct protein prices were down 13 and 1/2 to 18 and 1/2 cents at mostly 8-61 and 3/4. DNS wheat with 14 pct protein prices were down a nickel at mostly 9-29 and 1/2. ??June live cattle were down Thursday 85 cents at 122-35. May Feeder cattle were down 62 and half cents at 145-95. May class III milk was down 3 cents at 18-37.
