Marketline Report for Thursday, April 4th
This is Bob Larson with the Market Line Report for Thursday, Apr 4th. Grains were steady in Wednesday trading, with wheat pushing higher. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Wheat, it was up somewhat so it was rising. Some of the managed funds are kind of buying a little bit. They're underpinning those prices. The commercials and the funds are trying to negotiate the prices back and forth to roll their positions forward because first-notice day is going to be upon us before we know it. It doesn't really come until the end of the month, but there's going to be like a back and forth a little bit with those position changes and at some point something's got to give and we'll see what happens there because right now, demand or the exports are just kind of pretty steady right now, not giving much rise to the market. And, with this border issue, it's basically putting a lid on any kind of idea that there's going to be a rally in the grains at all so we're going to watch that day-to-day."
Chicago May Wheat prices closed yesterday up 7 at 471 ¼
May Corn was up 1 ¼ at 363
Portland prices for soft white wheat of Ordinary Protein for Apr ended the day unch ranging from 5-90 to 6-00 Hard Red Winter wheat with 11 ½ % protein, prices for Apr were up 3 ½ ranging from 6-06 ¾ to 6-36 ¾ DNS wheat with 14 % protein, prices for Apr were dn 7 ranging from 6-39 ¾ to 6.54 ¾
Live Cattle for Apr were dn $.50 at 125.82 ½ Apr Feeder cattle are dn $.10 to 144.90 Apr Class III milk was dn .05 cents at 15.84
