U.S. Dollar Down Strengthens Grain Markets

U.S. dollar down on the day Friday which helped to strengthen the grain markets. From the floor of the CME Group, Gary Kozlowski shares his observations of Friday's markets.

Kozlowski: "Let's switch over to wheat right now. We're looking at March wheat contract with the U.S. dollar dropping it is helping. Everyone else is holding on to a lot of inventory but with the U.S. dollar dropping it's making our wheat a lot lot more attractive for exports right now and that's what we are counting on. But we've seen wheat in the last month drop 74 cents -- that's a pretty big number to be looking at. We're thinking that it will be holding above the $6 level -- we had support earlier today -- everybody was looking at that $5-90 range - never saw that at all."

Chicago March Wheat ended Friday up 3 cents at 6-09. March corn ended the day up 1 and 1/4 cents at 4-27 and 1/2.??Portland prices for soft white white were up 3 cents at mostly 6-81 and 1/2. White club wheat prices were up 3 cents at mostly 7-06 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down a 1/4 of a cent at mostly 7-44 and 1/4. DNS wheat with 14 percent protein prices were down 3 and 1/2 cents at mostly 8-01 and 3/4.

?February live cattle were up 80 cents Friday at 134-95. March Feeder cattle were up 60 cents at 167-80. February class III milk was down 19 cents at 18-78.