Oats at Six-Week High
Corn sprang back from flirting with the $3 mark, and wheat a little weaker on Wednesday. With more, here’s Virginia McGathey.
McGathey… “Now wheat was easing somewhat, so it's kind of opposite of what corn and soybeans were doing. The weather is benefiting the crop right now. One thing to remember is. Oats today were at a six week high. And so the old saying used to be as the oats goes, so goes the market. You know, maybe that's the canary in the coal mine. We don't want to get too much ahead of ourselves because there's still a lot of news coming up right now. And I think that wheat export numbers are going to be coming out tomorrow and who knows what's going to happen to finish off this week, but it's really positive on this Earth Day.”
Chicago May Wheat futures yesterday closed down $0.03 ½ to $5.43.
Kansas City Hard Red Winter Wheat down $0.06 ½ to $4.90.
May Corn shot back up $0.08 ¼ to $3.17 ½.
Portland prices unchanged for soft white wheat of ordinary protein at $6.12 to $6.15.
Club Wheat of Ordinary Protein also unchanged $6.12 to $7.90.
Dark Northern Spring wheat prices down just a penny and a quarter ranging from $6.33 ¾ to $6.63 ¾ for 14% protein.
Live Cattle futures steady down just $0.15 on the June board to $83.92 ½. Feeder Cattle for May about the same, down just $0.07 ½ to $116.67 ½.
Class III milk for May up $0.13 to $10.52.