Tommy Allen Market Report
by Tommy Allen, click here for bio

Program: Market Line
Date: February 22, 2017

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This is Tom Allen with the Market Line Report. With the market opening back up today, The markets looked a little bearsh, partly due to crop conditions in south America. Here is Virginia McGathey from the floor of the CME to give you her take on the grain market.

McGathey “.”Portland Daily Grain Report

Bids as of 12:00 p.m. Pacific time; Subject to change

March wheat futures closed four to five cents per bushel lower

compared to Friday’s closes.Bids for US 1 Soft White Wheat delivered to Portland in unit trains

and barges for February delivery ordinary protein trended steady to five

cents per bushel lower compared to Friday’s noon bids for the same

delivery period. Some exporters were not issuing bids for nearby

delivery. Bids for guaranteed maximum 10.5 percent protein trended five

cents per bushel lower compared to Friday’s noon bids for the same

delivery period. Some exporters are not issuing bids for nearby

delivery.Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for February

delivery trended four cents per bushel lower compared to Friday’s noon

bids for the same delivery period.Bids for 14 percent protein US 1 Dark Northern Spring Wheat for

February delivery were five cents per bushel lower compared to Friday’s

noon bids for the same delivery period.Bids for US 2 Yellow Corn delivered full coast in 110 car shuttle

trains for February delivery trended mixed, from 14 cents lower to one

cent per bushel higher than Friday’s noon bids. Some exporters were not

issuing bids for nearby delivery.Bids for US 1 Yellow Soybeans delivered full coast in 110 car shuttle

trains for February delivery trended 6.25 cents per bushel lower compared

to Friday’s noon bids for the same delivery period. Some exporters were

not issuing bids for nearby delivery.Starting with Chicago markets, July wheat prices closed the day at 465 even. Chicago July Corn prices were at 477 3/4.

Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC were ranging from 4-67 to 4-79. Hard Red Winter Wheat with 11.5 % protein, future prices for May were ranging from 5.4550-5.5050 . DNS Wheat with 14 % protein, prices for May were, ranging from 6.4925-6.7925.

June Live Cattle finished the day up at 105.90. May Feeder cattle were up at 124.20. March class III milk was dn 21 cents at 16-69.

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