Midweek Market Line Report
Grain futures pulled back a little on Wednesday after a strong start to the week. From the floor of the CME in Chicago, here’s Viriginia McGathey.
McGathey…”Now the wheat was consolidating now that the trade deal optimism is slowing down, as it slowed down on really all of the markets right now. Weed has a nice advantage right now. If China actually does come through with its commitment on $40 billion worth of purchases. I think that the wheat industry as a whole is going to be at a big advantage if this actually happens. So everyone's keeping their fingers crossed, but right now a little bit of a pullback in that market.”
Chicago March Wheat futures closed yesterday down $0.08 to $5.48 1/4.
March Corn closed down $0.03 to $3.87.
Kansas City Hard Red Winter Wheat futures closed down $0.04 1/2 to $4.62 1/4.
Portland prices for soft white wheat of ordinary protein were unchanged yesterday still ranging from $5.90 to $6.05.
Dark Northern Spring wheat prices for Dec were down slightly ranging from $6.68 1/2 to $7.13 1/2 for 14% protein.
The aggressive bidders seem to be back for Club Wheat of Ordinary Protein. The top range of those bids jumped back up to $7.40.
Live Cattle futures were up $0.17 1/2 to $126.12 1/2 on the February board. Jan Feeder Cattle were down $0.60 to $144.55.
January class III milk was up $0.38 to $17.34.