First Day of Grain Trading in February Lower Across the Board

I’m KayDee Gilkey with the Market Line Report for February 3, 2015.

 

Grains ended lower across the board. From the floor of the CME Group, Alexandra Lively shares her observations of Monday’s markets.
Lively: “Corn and soybeans began their first trading day of February mostly mixed while wheat was under pressure. Even though early February is typically a seasonally buy in wheat. Traders pointed out that in general, end of the month selling typically followed by new money entering the market the following month. However some traders are not very optimistic about this happening and if it does the upside may be limited and short-lived. For the month of January, Chicago wheat lost almost 15 percent; corn almost 7 percent and soybeans lost 6 percent.”
Chicago May Wheat ended Monday down 9 and 1/2 cents at 4-97 and 1/4. May corn ended the day down 3/4 of a cent at 3-77 and 3/4.
Portland prices for soft white wheat of ordinary protein were down 5 to 8 cents at mostly 6-49 and 3/4. White club wheat of ordinary protein had no price comparisons but were at mostly 9.07 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 3/4 of a cent to 5 and 3/4 cents at mostly 6-39 and 1/2. DNS wheat with 14 percent protein prices were down 2 and 3/4 cents at mostly 8-27.
April live cattle were down $2.67 and half on Monday at 149-60. April Feeder cattle were down $4.50 at 200-90. April class III milk was down 2 cents at 15-48.