Markets Were Quiet

This is Tom Allen with the Market Line Report for Feb 24th. Markets were quiet in grains yesterday, corn, soy beans, and wheat all down on the day but not enough to worry about. Todd Horwitz goes over the details from the floor of the CME in Chicago.

Horwitz "We are all hearing all kinds of stories about Argentina and what's going on in Brazil. This story means nothing. We have nothing going on. The market situation is still in the same turmoil that we are in all along. Markets are quiet, volume is light. Were right here in that midpoint where we are waiting to get back out in the field and start the cycle again. Overall where are we going, markets are drifting lower. "

Chicago March Wheat ended the day dn 10 ½, at 447 ½. March corn ended the day dn 5 ½, at 362. Portland prices for soft white wheat of 10 ½ % protein for March were unch to dn 8 ½, ranging from 5-87 to 5-90. Hard Red Winter wheat with 11 ½ % protein, prices for Feb were dn 7 ½, ranging from 5-36 ¼ to 5-46 ¼. DNS wheat with 14 % protein, prices for Feb were dn 7, ranging from 5-95 ¾ to 6-05 ¾. Feb Live Cattle closed the day up 2 ½ cents, at 136.45. March Feeder cattle were up $1.95, at 157.12 ½. March class III milk was dn 12 cents, at 13-52.