Quiet Day of Trade Awaiting USDA Report
I’m KayDee Gilkey with the Market Line Report for January 12, 2015.Friday ended lower for wheat and higher for corn on a relatively quiet day of trading awaiting today’s USDA report results. From the floor of the CME Group, Frank Lesh shares his observations of Friday’s markets.
Lesh: “Ag markets were mixed in Friday’s trade - March corn was up 6 cents, March beans was up about 4 cents and March wheat was off by 4 cents. When we look at Friday’s trade we see where we stand for the week and we were higher with corn and beans as well. March corn was up 5 cents on the week — so it got all its gains on Friday’s trade and March wheat was down 29 cents on the week.”
Chicago March Wheat ended Friday down 3 and 1/4 cents at 5-63 and 3/4. March corn ended the day up 6 cents at 4-00 and 1/4.
Portland prices for soft white wheat of ordinary protein were down 2 to 3 and 1/4 cents at mostly 6-60 and 3/4. White club wheat of ordinary protein prices were down 2 to 3 and 1/4 cents at mostly 9-28 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 7 and 1/4 cents at mostly 6-74 and 1/2. DNS wheat with 14 percent protein prices were down 5 and 1/4 cents at mostly 8-48 and 1/4.
February live cattle were down $3 on Friday at 160-60. March Feeder cattle were down $4.50 at 212-55. February class III milk was down 9 cents at 14-84.