Marketline Report for Tuesday, March 20th
This is Bob Larson with the Market Line Report for Tuesday, March 20th. The grain market is down, led by corn and soy. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Wheat also fell double-digits. Improved weather in Kansas definitely is pressuring the futures. However, it's dry in Oklahoma and in Texas and it seems that there was some commercial selling and some bearish momentum has been building since March 1st. That being said, it's still dry. We don't know exactly what the crop damage is going to be in the South for the winter wheat. When that happens, we'll be able to gauge that a little bit better and even those unknowns out there. But, the stock market is down. That's also adding to the negative sentiment in the selling and putting pressure on all the markets across the board."
Chicago May Wheat prices closed yesterday dn 17 at 452 ¼
May Corn was dn 7 ¾ at 375 ¾
Portland prices for soft white wheat of Ordinary Protein for May ended the day dn 7 ranging from 5-55 ¾ to 5-60 Hard Red Winter wheat with 11 ½ % protein, prices for March were dn 29 ranging from 6-00 ¼ to 6-25 ¼ DNS wheat with 14 % protein, prices for March were dn 15 ¼ ranging from 7-11 ½ to 7-31 ½
Live Cattle for April were dn $1.02 ½ at 120.45 March Feeder cattle are dn $1.52 ½ to 138.50 March Class III milk was up $.01 cents at 14.29
