05/30/05 Market holiday

05/30/05 Market holiday

Marketline May 30, 2005 Futures exchanges and USDA Market News Service are closed today for the Memorial Day Holiday. Trading resumes tomorrow. Wheat futures ended lower Friday. That was after Chicago July wheat hit a two-month high. Mark Chiodo of Slipka Commodities in Minnesota says it was a quiet pre-holiday session. Chiodo: "Kind of a light local population in the pits. Not much speculative trade going on. Funds were light sellers. Not much dynamic news to go on. No export news to speak off. You can find want you want in the weather. So nothing definite there." On Friday Chicago July wheat was down 2 3/4 cents at 3-35. July corn down 3 3/4 at 2-21 1/4. Portland cash white wheat steady to a penny lower at mostly 3-92. New crop August 3-83. Club wheat 3-95. PNW HRW 11.5 percent protein lower at 4-18. Dark northern spring 14% protein lower at 5-10. Barley delivered to inland feeding areas 99 dollars a ton. Boxed beef was sharply lower Friday. Futures traders are wondering just how well beef demand will hold up as more market ready cattle become available. On Friday in a shortened session cattle futures were steady to higher. Aug live cattle unchanged at 84-07. Aug feeders up 67 at 111-45. July Class III milk up 16 cents at 14-08. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network.
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