Lackluster Close to 2013
Happy New Year -- I'm KayDee Gilkey with the Market Line Report for January 1, 2014.
The last day of the year's commodity markets proved to be relatively quiet and lackluster. From the floor of the CME Group, Virginia McGathey shares her observations of Tuesday's markets.
McGathey: "Wheat has been on the downtrend -- down a couple of dollars. From nine dollars to six dollars -- so $3 in just in the past year. Not looking like much - lackluster demand. Worldwide wheat really full around the world which is really making it difficult to get off the dime. If we don't have any other bigger news that comes in it looks like the markets still seek new lows, but we've had new lows for the past number of years in the grains. Without better news or something from the USDA, it looks like we will continue on that vein."
Chicago March Wheat ended Tuesday up 4 and 3/4 cents at 6-05 and 1/4. March corn ended the day down 1 and 1/4 cents at 4-22.??Portland prices for soft white white were up a nickel at mostly 6-77 and 3/4. White club wheat prices were up a nickel at mostly 7-02 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up 4 and 3/4 cents at mostly 7-40 and 1/2. DNS wheat with 14 percent protein prices were up a nickel at mostly 8-02 and 1/4.
?February live cattle were down 47 and half cents Tuesday at 134-62 and half. March Feeder cattle were down 55 cents at 167-40. February class III milk was up 6 cents at 18-67.
