Wheat Takes Slight Dip

This is Matt Rice with today’s Market Line Report for Thursday. Wheat losing some gains yesterday but overall, the uptrend still looks promising. Let’s go to Virginia McGathey with the CME Group to hear more.

McGathey “Wheat today was a little bit lower, but the uptrend is still intact. I think that the range is inside yesterday’s range, so the only one thing that is different today is we didn’t make a new high. “

Chicago Wheat prices for Dec. closed yesterday dn 5 ¾, to finish at 558 ¼. Dec. Corn up ¾, to finish the day at 358 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were dn 6 ¼, to close at 479 ¼.

Portland prices for Club Wheat of Ordinary protein was up 5 to Unch, ranging from 5-40 to 5-72. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Oct. were dn 6 ¼, ranging from 6 -34 ¼ to 6-39 ¼. Soft white wheat of Ordinary Protein for Dec. ended the day up 6, ranging from 5-35 to 5-50. DNS wheat with 14 % protein, prices for Oct. were up 1 ¼, ranging from 6-47 ½ to 6-72 ½.

Live Cattle for Oct. were dn $1.00, closing at 104.47 ½. Oct. Feeder cattle dn $1.20, to finish the day at 139.45. Oct. Class III milk was up $.75, at 19.02.