Wheat Down Yet Again
I'm KayDee Gilkey with the Market Line Report for November 15, 2013.
Although there was encouraging wheat export news -- it didn't really seem to boost the market on Thursday. From the floor of the CME Group, Larry Shover shares his observations of Thursday's markets.
Shover: "Well today's grain market is really slow considering all the factors that are overhanging the market right. Starting with wheat -- it continues to have a mind of its own -- it continues on a tear. Very firm up about 4 cents on the day. Near by resistance point $6.55 support at $6.43 and the narrative continues to be the same with strong export demand for wheat coming out of the United States."
Chicago December Wheat ended Thursday down a 3/4 of a cent at 6-44 and 3/4. December corn ended the day down 3 and 1/4 cents at 4-26 and 1/2.??Portland prices for soft white white were up 9 and 1/4 cents at mostly 7-03 and 3/4. White club wheat prices were up 9 and 1/4 cents at mostly 7-28 and 3/4. Bids for Hard Red Winter wheat with 11.5 percent protein were not available for November delivery. DNS wheat with 14 percent protein prices were up a half of a cent at mostly 8-27.
?December live cattle were up 22 and half cents Thursday at 132-97 and half. January Feeder cattle were up 55 cents at 165-20. December class III milk up 9 cents at 18-10.
