Wheat in Tandem Mode
Market Line July 17 2015
Its like a bicycle built for two Wheat is projected to be in tandem with corn and soy. I’m Susan Allen this is Market Line for Thursday July 17th. We’ve got Oliver Sloup with iiTrader with his assessment of the market from the floor of the CME.
Oliver Sloup: “Trading relatively choppy today but if you look at the opening and closing prices they are pretty much flat lined over the past five sessions managing to hold a 20 day moving average that could be very key going forward and personally I think you are going to see wheat trading in tandem with the markets of corn and soy”.
Chicago September Wheat ended Wednesday at 5-62 ½ down 4 1/2
September corn closed the day at 4-28 1/2 up 1/2
Portland prices for soft white wheat August new crop ordinary protein ranging 6-22 ¼ to 6.35 dn 4 ½ to un changed
White Club wheat of 10.5 % protein mostly 6.95 1/4
August New crop Hard Red Winter wheat with 11.5 percent protein at 6.08 ¼ to 6.33 1/4 down 5.3/4
DNS wheat with 14 percent protein prices for new crop were down 7 and 1/2 cents ranging between 6-72 and 6-97 and 1/2.
August live cattle were at 146.35 1/2 down 67 1/2 cents
August Feeder cattle were down 92 ½ cents at 214 1/2
August class III milk was down 2 cents at 16-33.
