Marketline Report for Wednesday, January 2nd
This is Bob Larson with the Market Line Report Wednesday, Jan 2nd . The Market was closed yesterday for the New Year, but from the floor of the CME in Chicago with Weekend numbers, here's Virginia McGathey.
McGATHEY ... "Now, wheat was up and it's been in a little bit of an oversold condition and that really brought in some buyers to give it somewhat of a rebound. It didn't really spring back all that much, but a few cents and keeping it well above that $5 benchmark that we had looked at for a while but certainly well off the high of $5.38 of that March contract. That being said, it looks like we are really trying to push this market higher despite the fact that we have been having trouble being competitive around the world. Now, since our prices dropped a little bit lower I think that it makes that a little bit easier right now, but there hasn't been much going on. The markets are very thin, really light trading and are getting pushed around back and forth an awful lot."
Chicago March Wheat prices closed yesterday up 1 at 511 ¼
March Corn was up 1 at 375
Portland prices for soft white wheat of Ordinary Protein for Dec ended the day unch ranging from 6-15 to 6-30 Hard Red Winter wheat with 11 ½ % protein, prices for Dec were up 1 ranging from 6-41 to 6-56 DNS wheat with 14 % protein, prices for Dec were dn 1 ¾ ranging from 6-45 ½ to 6-55 ½
Live Cattle for Dec were up $1.15 at 124.20 Jan Feeder cattle are up $.07 ½ to 149.25 Dec Class III milk was dn .02 cents at 13.82
