Soy Beans On The Rise

I'm Matt Rice with the Market Line Report for October 14th. Grains showing strength, especially in soy beans, numbers up to $9, while corn holds steady. Virginia McGathey shares her thoughts with us from the floor of the CME.

McGathy- "Tuesday in the grain market has a big pop from soy beans, we are up almost 14 cents. We got up to $9.04, we broke through that $9 number, so it really has everyone shaking their head as to what's happening here in the harvest. It looks like dryness in Brazil, possibly could reduce some of that acreage, perhaps the yields. There is concern that they are going to take over some the largest producers in the world."

Chicago December Wheat ended yesterday up 9 3/4, at 516 1/2. December corn ended yesterday up 2, at 382 3/4. Portland prices for soft white wheat of ordinary protein for October we steady, ranging from 5-45 1/4 to 5-55 even. Hard Red Winter wheat with 11 ½ % protein prices for October were up, ranging from 6-17 ¾ to 6-32 3/4. DNS wheat with 14 % protein, prices for October were consistent, ranging from 6-64 3/4 to 6-74 3/4. October live cattle closed yesterday up 47 1/2 cents, at 132.40. October Feeder cattle were up 45 cents, at 189.82 1/2. October class III milk was up 4 cents, at 15-76.