Wheat Up Slightly on Wednesday

Wheat Up Slightly on Wednesday

I’m KayDee Gilkey with the Market Line Report for April 24, 2014.

Wheat and corn closed higher on the day. From the floor of the CME Group, Jack Scoville shares his observations of Wednesday’s markets.

Scoville: “Grains and oilseeds generally trading higher over the course of the day, Wednesday. Weather certainly playing an important role. The current cool and wet weather here in the Mid-West is causing perhaps a little bit more in terms of planting delays especially for the new corn. Also the lack of rain is still affecting the wheat product potential. Forecast earlier in the week had called for more rain than forecasts are currently calling for. So those factors supporting the markets being generally higher on the day.”

Chicago May Wheat ended Wednesday up 3 and 1/2 cents at 6-76 and 1/2. May corn ended the day up 7 and 1/4 cents at 5-03 and 1/2.

Portland prices for soft white wheat were up 2 to 8 and 1/2 cents at mostly 7-55. White club wheat prices were steady to up 18 and 1/2cents at mostly 8-12 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 4 and 1/2 cents at mostly 8-55 and 3/4. DNS wheat with 14 percent protein prices were up 2 to 4 cents at mostly 8-69 and 1/4.

 

June live cattle were up 12 and half cents on Wednesday at 135-10. May Feeder cattle were up 27 and 1/2 cents at 178-62 and half. May class III milk was up 12 cents at 22-41.

 

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