Wheat Markets Close Higher

Wheat Markets Close Higher

I’m KayDee Gilkey with the Market Line Report for August 28, 2014.
Wheat closed higher, corn traded unchanged and soybeans closed lower. From the floor of the CME Group Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grain trade — pretty much flat across the board — a little higher, a little lower. Wheat being the strongest, soybeans the weakest. Wheat looks to have found nice base at $5.30 to $5.40 level and has been acting a little stronger here. If there is any global tension, wheat might pop up again. Wheat looks pretty strong here. I’m certainly not interested in shorting these commodities because I think that they want to work their way higher. Even with the strength of the dollar here — they are not getting pommelled.”
Chicago September Wheat ended Wednesday up 5 and 3/4 cents at 5-47 and 1/4. September corn ended the day unchanged at 3-56.
Portland prices for soft white wheat were up 2 and 1/4 to 5 and 3/4 cents at mostly 7-00 and 1/2. White club wheat prices were up 5 and 3/4 to 10 and 3/4 cents at mostly 9-06 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up 17 cents at mostly 7-36. DNS wheat with 14 percent protein prices were up 7 and 1/2 to 14 and 1/2 cents at mostly 7-96 and 1/4.
October live cattle were down 42 and half cents on Wednesday at 147-82 and half. September Feeder cattle were up 27 and half cents at 214-47 and half. September class III milk was down 9 cents at 23-98.

 

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