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KayDee Gilkey Thursday Was Mixed Day for Grain Markets
by KayDee Gilkey, click here for bio

Program: Market Line
Date: May 12, 2017

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I’m KayDee Gilkey the Market Line Report for Friday, May 12th. From the floor of the CME Group here is Joe Vaclavik with comments on Thursday’s grain markets.

Vaclavik: “Corn market was mixed to mostly lower on Thursday. On Wednesday we had a USDA report that was a little bit friendly relative to expectations. The ending stock projections — both for the world and for the U.S. — were a little bit lower than expectations so saw some buying interest on Wednesday but really didn’t see the buying interest here on Thursday. A lot of these USDA projections, the balance sheets are hugely a function of the yield number and that is hugely a function of weather. It is way too early in the growing season for us to try and put a number on this yield.”

Chicago July Wheat prices closed Thursday up 2 cents at 4-33 and 3/4. July corn ended the day down 4 and 1/2 cents at 3-69 and 1/4.

Portland prices for June soft white wheat of Ordinary Protein ended the day unchanged to up 2 cents ranging from 4-70 to 4-88 and 3/4. Hard Red Winter wheat with 11.5% protein, prices for June were up 1 and 1/2 cents ranging from 5-15 and 3/4 to 5-25 and 3/4. June DNS wheat with 14 % protein prices were up 3 and 1/4 cents ranging from 6-48 and a 1/4 to 6-73 and 1/4.

June live cattle were down 27 and half cents on Thursday at 123-92 and half. August feeder cattle were down at $1.60 at 147-32 and half. June class III milk was up 6 cents at 15-61.

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