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Brazil Markets Looming Over US
by Matt Rice, click here for bio
Program: Market Line
Date: March 17, 2017
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McGathey “Fundamentally speaking, the Brazil harvest is marching on and it’s still has a huge crop coming and that kind of looms large over all the grain markets right now. We had a little bit of easing in the US dollar index that also helped kind of underpin some of the markets, that was very helpful. Wheat now did not get too much a boost today, but the sub-freezing temperatures are still a concern to everyone that’s watching to see if there’s going to be some damage.”
Chicago markets, July wheat prices closed the day up ¼, at 450 ½. Chicago July Corn prices were up 2 ½, to finish the day at 373 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC were up ¼- Unch, ranging from 4-60 ½ to 4-67. Hard Red Winter Wheat with 11.5 % protein, future prices for Aug. NC were up 2 ¼, ranging from 5-36 to 5-51. DNS Wheat with 14 % protein, prices for Aug. NC were up 7, ranging from 6-74 ¼ to 6-79 ¼. Aug. Live Cattle finished the day up 95 cents, at 104.87 ½. May Feeder cattle were up $1.70, at 129.45. May class III milk was dn 21 cents at 15-15.
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