Green Across the Boards in Grains on Thursday

I’m KayDee Gilkey with the Market Line Report for February 6, 2015.
Grains ended up across the boards on Thursday. From the floor of the CME Group, Scott Shellady shares his observations of Thursday’s markets.
Shellady: “Green across the board — especially for you wheat traders. Wheat was up the most and front month wheat was at 15 and 1/2 cents, corn was up 1 and 1/4, beans up 9 and 1/4. Let’s start with the reasons why — this is where things becomes a bit of a tall tale — but I think we’ve got some genuine news in the wheat market with extending some credit to Egypt to maybe buy some wheat from us and some maybe some bad crop stories coming out of Russia. Those are the two big impetuses. Also we’ve seen wheat get beat up as of late and we’ve dipped our head below that $5 level and there is a little bit of boomerang effect happening over there.”
Chicago May Wheat ended Thursday up 13 and 1/4 cents at 5-27 and 1/4. May corn ended the day up 1 and 3/4 cents at 3-93 and 1/4.
Portland March prices for soft white wheat of ordinary protein were up 5 to 13 and 3/4 cents ranging between 6-40 and 6-67 and 3/4. White club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were up 11 and 1/4 cents at mostly 6-71. DNS wheat with 14 percent protein prices were up 13 cents at mostly 8-69.
April live cattle were down 62 and half cents on Thursday at 148-02 and half. April Feeder cattle were down $1 even at 195-85. April class III milk was up 15 cents at 15-65.