Wheat Closes Lower Thursday

I’m KayDee Gilkey with the Market Line Report for March 6, 2015.
Wheat closed lower on slow export sales and rising US dollar. While corn had slight gains on good export sales. From the floor of the CME Group, Virginia McGathey shares her observations of Thursday’s markets.
McGathey: “Thursday in the grains, we’ve got a couple of things in play. Right now the U.S. dollar hasn’t been stronger since 2003. It’s really weakening the wheat market. We are down 15 cents today down to the $4.80 mark almost to the spot we were at six or seven months ago. Corn on the other hand, not much going on. China is a little bit in play — some exports in, some out — really nothing really going there. It was really a flat market today at the $3-90 mark.”
Chicago May Wheat ended Thursday down 15 and 1/2 cents at 4-80 and 1/2. May corn ended the day up a penny at 3-90 and 1/2.
Portland prices for soft white wheat of ordinary protein were down 4 and 1/2 to 11 cents at mostly 6-22 and 1/2. White club wheat of ordinary protein prices were down 11 to 47 cents at mostly 8-42 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 10 and 1/4 cents at mostly 6-26. DNS wheat with 14 percent protein prices were down 7 and 1/4 cents at mostly 8-61 and 1/4.
April live cattle were down 77 and half cents on Thursday at 153-27 and half. April Feeder cattle were up $1-even at 205-37 and half. April class III milk was up 2 cents at 15-42.