Grains Either Side of Unchanged Wednesday

Grains Either Side of Unchanged Wednesday

I’m KayDee Gilkey with the Market Line Report for January 22, 2015.

 

Grains were mostly either side of unchanged at the end of Wednesday but cattle prices ended higher. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “ Wednesday’s grain market pretty much a mixed market across the board. A really quiet market where everything closed plus or minus from the unchanged line. I didn’t see anything that changed the overall opinion that I believe that the markets have a lot of room to run still on the upside. Corn looks to be at the $3.75 to $3.80 level as a very good spot to get in. And wheat held up nicely over the $5.30 which we were looking at the other day. If we could hold here, I think that wheat would have a chance. Wheat has been the most volatile product of the group going back and forth over the past year.”
Chicago March Wheat ended Wednesday down a 1/4 of a cent at 5-36 and 3/4. March corn ended the day down 2 and 1/4 cents at 3-88.
Portland prices for soft white wheat of ordinary protein were steady to down a 1/4 of a cent at mostly 6-34 and 3/4. White club wheat of ordinary protein prices were down a 1/4 of a cent at mostly 8-77 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices down 5 and 1/2 cents at mostly 6-67 and 1/4. DNS wheat with 14 percent protein prices were down 8 and 1/2 cents at mostly 8-28.
February live cattle were up 65 cents on Wednesday at 153-70. March Feeder cattle were up $2.82 and half at 205-30. February class III milk was up 13 cents at 14-58.

 

 

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