Higher Wheat Markets on Wednesday

Higher Wheat Markets on Wednesday

I’m KayDee Gilkey with the Market Line Report for September 25, 2014.
Grains closed higher on Wednesday despite a higher US dollar and record harvest. Slight buying interest surfaced as grain prices are getting low enough to attract buying. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Howitz: “Wednesday’s grains — a little bit of a rally. I wouldn’t call it much of a rally but a little bit of a rally but we continue to see the same problems — new contract low after new contract low. The good news is we haven’t gotten in yet and we’re still waiting for a price to get in and looking for a spot where we are going to find true support. Where we could see ourselves settling lower. Today’s price action very non-eventful.”
Chicago December Wheat ended Wednesday up 4 and 1/4 cents at 4-80 and 1/4. December corn ended the day up 4 cents at 3-29 and 1/2.
Portland prices for soft white wheat were up a quarter of a cent to 4 and 1/4 cents at mostly 6-71 and 3/4. White club wheat prices were up 4 to 4 and 1/4 cents at mostly 8-88 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 2 and 1/4 to 27 and 1/4 cents at mostly 7-12 and 1/4. DNS wheat with 14 percent protein prices were up 3 and 1/2 to 28 and 1/2 cents at mostly 8-13.
October live cattle were down 12 and half cents on Wednesday at 155-32 and half. October Feeder cattle were up 25 cents at 230-40. October class III milk was up 34 cents at 25 even.

 

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