Wheat Markets Lower on Monday
The Christmas week began relatively quiet with little movement in the corn and wheat markets. From the floor of the CME Group, Chris Robinson shares his observations of Monday’s markets.
Robinson: “Starting the week off here kinda of the quiet side — no real surprises. It is the Christmas week week in general a lot of people are really out of the markets. Supportive news coming out of Russia — again they are trotting out the idea that they are going to be curtailing their exports. However, I think this is the third or fourth time they've done it and the market is only up three or four cents. The big things we looked at last week is that the funds added to their longs — the biggest long position they have had in corn and wheat since May.”
Chicago March Wheat ended Monday down 6 and 1/2 cents at 6-25 and 3/4. March corn ended the day up 1 and 1/4 cents at 4-11 and 3/4.
Portland January prices for soft white wheat of ordinary protein were down a nickel to 13 and 1/2 cents ranging between 6-85 and 7-03 and 3/4. White club white had no price comparisons. Hard Red Winter wheat with 11.5 percent protein January prices were down 8 and 1/4 cents ranging between 7-42 and 3/4 and 7-57 and 3/4. DNS wheat with 14 percent protein January prices were down 3 and 1/4 cents ranging between 9-30 to 9-45.
February live cattle were up 72 and half cents on Monday at 160-82 and half. March Feeder cattle were up $1-even at 218-97 and half. January class III milk was up 38 cents at 16-78.