Marketline Report for Thursday, January 4th
This is Bob Larson with the Market Line Report for Thursday, January 4th. Wheat held steady on the grain market Wednesday. From the floor of the CME in Chicago, here's Virginia McGathey ...
Virginia McGathey ... "Wheat is still very firm. It's kind of supported by Kansas City wheat, very strong. It seems that the extreme cold temperatures are really supporting this recent rally and it continues. The weather has really stalled a lot of the grain movement and exports and makes it kind of difficult, but still the crop damage concerns is also on everyone's mind even though it's going to be months before we find out what damage there is. But, everyone in this deep freeze across the U.S. and certainly in the Midwest and on the East Coast has everyone a little bit nervous and I think that it's on trader's minds. And so, it's keep the market a little bit strong. So, with that, that's holding the wheat market off in spite of the fact the world wheat supplies are pretty plentiful."
Chicago March Wheat prices closed yesterday up 2 ½ at 435
March corn was dn ¼ at 353
Portland prices for soft white wheat of Ordinary Protein for January ended the day unch ranging from 5-25 to 5-30 Hard Red Winter wheat with 11 ½ % protein, prices for January were up 6 ¼ ranging from 5-86 to 5-96 DNS wheat with 14 % protein, prices for January were up 1 ¾ ranging from 7-34 ¾ to 7-54 ¾
Live Cattle for February were dn $.40 at 122.87 ½ January Feeder cattle are dn $.15 to 149.22 ½ January Class III milk was dn .01 cents at 14.03
