Modest Gains for Wheat Market on Friday

Wheat closed with modest gains while corn closed fractionally higher.  Wheat had modest gains to end the week but the trend remains bearish with little fresh news. From the floor of the CME Group, Frank Lesh shares his observations of Friday's markets.

Lesh: "Well, grain trade on Friday we had March corn up a penny and March wheat up about 2 cents. A little different show on the week — however, since last Friday. For March corn we were up 5 cents for the week. Soybeans were unchanged last week and March wheat was down about 10 cents. Markets remain range bound here."

Chicago March Wheat ended Friday up 2 and 1/4 cents at 5-55 and 3/4. March corn ended the day a 1/2 of a cent at 4-34.??Portland prices for soft white white were up 2 and 1/2 to 7 and 1/4 cents at mostly 6-90 and 3/4. White club wheat prices had no price comparisons at mostly 6-90. Hard Red Winter wheat with 11.5 percent protein prices were mixed down 20 and 1/2 to up 4 and 3/4 cents at mostly 7-65 and 1/2. DNS wheat with 14 percent protein prices were mixed down 13 and 1/4 to up 6 and 3/4 cents at 7-87.

?February live cattle were down 47 and half cents Friday at 141-67 and half. March Feeder cattle were up 72 and half cents at 169-42 and half. March class III milk was down 6 cents at 21-47.