Market Line Report for Wednesday, January 1st
Markets ended the year mixed but quiet yesterday. From the floor of the CME in Chicago, here is Scott Shellady.
Shellady…”This markets all setting up here and there has been talk upstairs, or at least around the market that these commodity contracts have been beaten up for far too long. And I guess I would like to say that the mood, and that's not really something you want to trade off of, but the mood is generally bullish. And obviously with this now, what used to be a head wind can now be a tail wind when it comes to China and tariffs. That's going to have to be something that you're going to really kind of have to keep an eye on.”
Chicago March Wheat futures closed up $0.02 1/2 to $5.58 1/2.
Kansas City Hard Red Winter wheat up $0.05 ½ to $4.86.
March Corn ended the year just down a half cent to $3.87 ½.
Portland prices for soft white wheat of ordinary protein unchanged yesterday at $6.15.
Club Wheat also unchanged with no bid for ordinary protein and minimum 10.5% protein ranging from $5.90 to $6.10
Dark Northern Spring wheat up $0.04 ranging from $7.01 to $7.26 for 14% protein.
Live Cattle futures were down $0.50 to $125.92 ½ on the February board. Jan Feeder Cattle were down just $0.10 to $145.32 ½.
Class III milk futures ended the year on a high note up $0.13 to $17.26.
Markets closed today for the New Year holiday.