Markets Continue to Rally & CRP Signup Continues

Markets Continue to Rally & CRP Signup Continues. I’m Greg Martin and this is Market Line.

Corn and wheat are riding on the back of soybeans as soy continues to support the market. Kevin Craney with RJO Futures.

CRANEY: You see corn trying to drift a little bit higher as we move into the U.S. spring planting season. They continue to see these soybeans continue to bid for acres and try to trade a little bit higher. We see that November new crop soybean contract butting up against resistance at that $13 level. We continue to try and see that bid higher as it tries to bid against what is projected to be a very large corn planting number.

USDA is making it possible for producers to enroll a total of one-million acres of land in a new Conservation Reserve Program initiative to preserve grasslands and wetlands.
Agriculture Secretary Tom Vilsack says - this initiative will have enormous benefits for farmers, sportsmen, and all Americans.

On Friday Chicago May wheat up 10 1/2 at 674 1/2
May corn up up 1 at 6.55
Portland soft white wheat and club wheat unchanged at mostly 7.20
New crop August white wheat 6.75
Hard red winter 11.5 percent protein up 13 at mostly 7.10
DNS 14% protein mostly 9.77 up 15
April live cattle down at 129.9
April feeders down at 161.325
April Class III milk 14.99 dn .61

I’m Greg Martin and that’s Market Line on Northwest Aginfo Net.