Wheat Market Choppy and Ends Higher on Tuesday
I’m KayDee Gilkey with the Market Line Report for November 26, 2014.Tuesday brought higher prices for all wheat markets. From CHS Hedging, Jenna Roe shares her observations of Tuesday’s markets.
Roe: “First up Decs corn was up 6 and 3/4 at 3-74 and 1/4 and Decs Chicago Wheat up 9 and 1/4 at 5-51 and 1/2. Kansas Decs settled up 13 at 6-17 and 1/4. Minneapolis Decs was up 11 and 3/4 at 5-90 and 3/4. It was a pretty — I would call it — a choppy start out to the morning and then we sure came in here and ended it strong. Beans kind of held their own and we saw a pretty big rally come into wheat near the end of the day.”
Chicago December Wheat ended Tuesday up 9 and 1/4 at 5-51 and 1/2. December corn ended the day up 6 and 3/4 cents at 3-74 and 1/4.
Portland prices for soft white wheat were up 8 and 1/4 cents at mostly 7-12 and 3/4. White club wheat prices were mixed down 1 and 3/4 cents to up 10 and 1/2 cents at mostly 9-48 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up 12 and 3/4 to 14 and 3/4 cents at mostly 7-45. DNS wheat with 14 percent protein prices were up 11 and 3/4 to 15 and 3/4 cents at mostly 9-59 and 3/4.
December live cattle were up 65 cents on Tuesday at 170-15. January Feeder cattle were down $1.97 and half at 231-37 and half. December class III milk was down 20 cents at 18-38.