Marketline Report Wednesday May 17th
Vaclavik ... "Corn market was mostly lower in a pretty quiet session here on Tuesday. The trade initially reacting to a planting progress report from USDA which told us that planting progress in this country is actually ahead of the five-year average. 71% of the U.S. corn crop was planted as of Sunday compared to just 70% on average. U.S. farmers were able to plant 24% of the crop in just one week. So, a very, very quick planting pace when farmers got the window of opportunity. You know, modern equipment and modern technology allows for this crop to be planted very, very quickly so I think that that was seen as being kind of a bearish item here."
Chicago July Wheat prices closed yesterday up 1 at 423 ½ - July corn ended the day unchanged at 367
Portland prices for soft white wheat of Ordinary Protein for July ended the day up 1 ranging from 4-79 ¼ to 4-85 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 4 ranging from 4-99 ½ to 5-09 ½ DNS wheat with 14 % protein, prices for July were dn ¼ ranging from 6-39 ¾ to 6-64 ¾
Live Cattle were dn $.55 at 122.15 May Feeder cattle were dn $1.57 ½ at 141.20 May Class III milk was up 03 cents at 15-63.