Marketline Report for Tuesday, February 27th
This is Bob Larson with the Market Line Report for Tuesday, February 27th. The Grain market shoots skyward on Monday. From the floor of the CME in Chicago, here's Virginia McGathey ...
McGATHEY ... "Everything's very, very strong here, including wheat. Wheat really jumped up and it seems that the weather troubles in the U.S. and in Europe are helping that market. There still some drought and dryness in the southern plains of the U.S. and in Europe, it seems that there is a frigid temperature right across Europe and that's kind of like sparked some worries that there's going to be some crop damage there. That will definitely help us a lot even though that we know the global supplies are pretty plentiful in wheat. There should be a lot more play in the market and we've seen wheat at a number we haven't seen in quite a while. A lot of volatility in the market. We are definitely in a full-blown weather market and that's going to help all commodities across the board."
Chicago March Wheat prices closed yesterday up 7 ¼ at 460 ¼
March corn was up 2 ¼ at 368 ½
Portland prices for soft white wheat of Ordinary Protein for February ended the day up 10 ranging from 5-40 to 5-67 Hard Red Winter wheat with 11 ½ % protein, prices for February were up 23 ¾ ranging from 6-37 ¾ to 6-47 ¾ DNS wheat with 14 % protein, prices for February were up 9 ¼ ranging from 7-25 to 7-26
Live Cattle for February were dn $.60 at 127.35 March Feeder cattle are dn $.45 to 145.75 February Class III milk was up $.0s cents at 13.44
