Wheat Markets End Tuesday Lower
The wheat markets ended Tuesday lower across the board. From the floor of the CME Group, Joe Vaclavik shares his observations of Tuesday’s markets.
Vaclavik: “Grain markets were mixed here in Chicago on Tuesday. We had a higher trade in the corn market and a sharply lower trade the wheat market. Traders are waiting a USDA report on Wednesday morning. This is the monthly Crop Production and WASDE Report. Nobody looking for any real fireworks as this December report is looked upon as a place holder. As terms as news items this week, it was noted during the last couple of days that Russian officials essentially told us that there isn’t going to be any restrictions and they aren’t discussing any restrictions on exports out of the country. That news broke the wheat market pretty good here on Tuesday.”
Chicago March Wheat ended Tuesday down 12 and 1/4 cents at 5-85 and 3/4. March corn ended the day up a nickel at 3-95 and 1/4.
Portland prices for soft white wheat were down 4 and 1/4 to 12 and 1/4 cents at mostly 7-02 and 1/4. White club wheat prices were down 12 and 1/4 cents at mostly 9-68 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 17 and 1/4 cents at mostly 7-35. DNS wheat with 14 percent protein prices were down 14 to 44 cents at mostly 9-35.
February live cattle were up $1.17 and half on Tuesday at 163-05. March Feeder cattle were down 87 and half cents at 227-35. January class III milk was up a penny at 15-90.