Market Line Report Tues April 4th
McGathey "It's really telling us we need to focus on the weather. There is some worry that if we continue to have the wet weather we're going to have, it's going to make some of the fields kind of mushy and then that's going to make something very difficult for planting. Now, we don't need to get ahead of ourselves, except these are going to be issue that are going to be at the forefront and they are certainly going to offer opportunity for much more volatility into the market. Too much rain could create serious activity in that realm. Now, corn and wheat today really rebounded nicely. They're gaining strength as well. They finally did bottom out. After the report, there has been some relief now that we know exactly what the planting intentions are and we've got some bargain hunters to buy some of those markets and they had some follow through buying today. Hopefully, we can a little more of that as well."
Chicago May Wheat prices closed yesterday up 1 ½ at 428. May corn ended the day up 3 ½ , at 367 ½
Portland prices for soft white wheat of Ordinary Protein for April ended the day up 1 ¼ ranging from 4-47 ¾ to 4-80 Hard Red Winter wheat with 11 ½ % protein, prices for April had no change, ranging from 4-09 to 4-44 . DNS wheat with 14 % protein, prices for April were dn ¼ ranging from 6-31 to 6-66 .
Live Cattle were dn $.52, at 119.22. March Feeder cattle were dn $.87 at 132.97. Jan. class III milk was up 21 cents at 15-52.