Slight Losses in Wheat Market Tuesday

I’m KayDee Gilkey with the Market Line Report for March 26, 2014.

 

Wheat had modest losses. From the floor of the CME Group, Virginia McGathey shares her observations of Tuesday’s markets.

 

McGathey: “Tuesday in the grain market was a little bit of a mixed bag. Word on the street coming from Informa is that beans and corn have reduced their acreage and raised the acreage for wheat. What does this mean for everyone — wheat a little bit lower corn and beans higher. Now there is other factors in the market right now; still very dry in the plains and in the southwest region of the U.S. and worries of the cold weather and difficulty of planting in the season has the market moving all over the place.”

 

Chicago May Wheat ended Tuesday down 6 and 1/4 cents at 7-08 and 1/4. May corn ended the day down 3 and 1/2 cents at 4-86 and 1/2.

 

Portland prices for soft white wheat were mixed down 4 and 1/2 cents to up 18 and 1/4 cents at mostly 7-74 and 1/4. White club wheat prices were mixed down 4 and 1/2 cents to up 18 and 1/4 at mostly 8-24 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were down 2 and 3/4 cents at mostly 9-21 and 3/4. DNS wheat with 14 percent protein prices were unchanged at 9-53.

 

April live cattle were down 22 and half cents on Tuesday at 144-37 and half. April Feeder cattle were up $1.05 at 177-35. April class III milk was down 26 cents at 23-83.