Marketline Report Thursday June 1st

Marketline Report Thursday June 1st

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday June 1st. The grain market stabilizing a bit on Wednesday. With yesterday's results from the floor of the CME in Chicago, here's Virginia McGathey ...

McGathey ... "Wheat was firm again today. It was up almost 6 ½ cents at one time. Overflow of buying coming in from the corn markets are really helping. The weather is still an issue with wheat. We know that we planted fewer acres than in the last 100 years and those issues are starting to come around. The USDA crop progress report was lower than expected and it was much lower than had had for years actually and so there's a number of issues that could give this market a real bullish plug, but we had some decent volatility out there and that's getting some attention from a lot of the fund managers. If we get a little more action coming in I think that we could get a big flood of money coming into these grain markets and we could be definitely off to the races."

Chicago July Wheat prices closed yesterday dn ¼ at 429 ¾ July corn ended the day up 5 at 371 ½

Portland prices for soft white wheat of Ordinary Protein for June ended the day dn ¼ ranging from 4-79 ¼ to 4-85 Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 1 ½ ranging from 5-06 ¾ to 5-16 ¾ DNS wheat with 14 % protein, prices for June were up 4 ranging from 6-72 to 6-97

Live Cattle for June were up $1.45 at 124.60 Aug Feeder cattle were up $2.65 at 152.70 May Class III milk was dn $.01 cents at 15-61.

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