Marketline Report for Tuesday, March 27th
This is Bob Larson with the Market Line Report for Tuesday, March 27th. A mixed bag on the grain market Monday. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Even in the wheat, the wheat was a little bit easier. It seems like the weakness in the market trend has been lower and it started off slightly higher today then found some selling. The market really pushed it lower. Overall, we're staying in a range from about $450 to $465. We're holding in that, so that's some consolidation is building and definitely all of last week stayed in that range and we're staying in that range as well. So, we're going to see. Today, even the Kansas City wheat took a little bit of a hit, was down 8 or 9 cents as well, but we're watching that because it's still dry in the U.S. plains and those kinds of maladies with the weather should definitely start to effect this market going forward."
Chicago May Wheat prices closed yesterday dn 6 at 454 ¼
May Corn was dn 3 ¼ at 374 ¼
Portland prices for soft white wheat of Ordinary Protein for May ended the day up 3 ranging from 5-63 to 5-65 Hard Red Winter wheat with 11 ½ % protein, prices for March were dn 11 ranging from 5-98 ¼ to 6-28 ¼ DNS wheat with 14 % protein, prices for March were dn 5 ½ ranging from 7-12 ¼ to 7-32 ¼
Live Cattle for April were dn $.87 ½ at 115.15 March Feeder cattle are dn $.77 ½ to 135.10 March Class III milk was up $.01 cents at 14.22
