Wheat Markets Mostly Higher on Tuesday

Wheat Markets Mostly Higher on Tuesday

I’m KayDee Gilkey with the Market Line Report for August 27, 2014.
Rain fell throughout the Corn Belt benefiting the row crops. From the floor of the CME Group Greg Wagner shares his observations of Tuesday’s markets.
Wagner: “Grain trade here at the CME for Tuesday was a mixed bag with row crops closing lower but well off their lows while wheat settled higher here in Chicago but the Minneapolis and Kansas City contracts posting slight losses. I would focus now on the row crops right now. What you have going on — you are looking at what yields are finally going to be. We have indications right now that what we are looking at in the corn crop is high plant populations and also there is high ear counts.”
Chicago September Wheat ended Tuesday down a penny at 5-41 and 1/2. September corn ended the day down 4 cents at 3-56.
Portland prices for soft white wheat were steady to up 4 cents at mostly 6-94 and 3/4. White club wheat prices were up 4 cents to $1.16 and 1/2 at mostly 8-88 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 1 and 3/4 cents at mostly 7-20. DNS wheat with 14 percent protein prices were down 4 and 1/4 cents at mostly 7-91 and 3/4.
October live cattle were up a dime on Tuesday at 148-25. September Feeder cattle were up 92 and half cents at 214-20. September class III milk was up 32 cents at 24-07.

 

 

 

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