Mixed Bag in The Grain Market
I'm Tom Allen with the Market Line Report. Mixed bag in the grain market. The trend is looking better as everyone anxiously awaits the next USDA report which will be coming out in a couple of days. Todd Horwitz shares his thoughts from the floor of the CME in Chicago. Horwitz- "Wednesdays grains saw mixed trading to the upside. Overall you have lot of issues in play. The fed, usda report coming out. Markets collapsing here. So much information being shoved into the market that it is having a minor effect on the grain market. " Chicago March Wheat ended yesterday up 1 1/2, at 462. March corn ended yesterday up 1 1/4, at 353 1/4. Portland prices for soft white wheat of ordinary protein for Jan were up 1 1/2, ranging from 5-20 to 5-22 1/4. Hard Red Winter wheat with 11 ½ % protein, prices for Jan. were up 1, ranging from 5-46 to 5-56. DNS wheat with 14 % protein, prices for Jan. also had a mixed market up 2, ranging from 6-09 to 6-29 Feb. live cattle closed yesterday dn 10 cents, at 136.67. Jan. Feeder cattle were up 60 cents, at 168.37 1/2. Jan. class III milk was up 7 cents at 13-57.