Quiet Day on the Markets

I'm Greg Martin. This is Market Line Report for January 30, 2014.

All in all it has been a slower and quieter week on the grain markets and Larry Shover with SFG Alternatives gives us a rundown.

SHOVER: The story for the week is how corn has been more of a follower than a leader in the grain market, but let's get down to it. Cold weather has definitely slowed movement of the grain however increased consumption to livestock, that might adding to some bullish narrative to the market. Ethanol production is still very, very strong. Margins are shrinking. Keep in mind natural gas has rallied about 22% since the middle of December. That's adding about 4 cents per gallon for production.

Chicago March Wheat closed up 2 at 5-53 and 1/2.

March corn ended up 6 at 4-33 and 1/2.

Portland prices for soft white white were up 2 at mostly 6-61.

White club wheat prices were up 2 at mostly 6-86.

Hard Red Winter wheat with 11.5 percent protein prices were up 2 at mostly 7-58 and 3/4.

DNS wheat with 14 percent protein prices were not avail.

February live cattle closed up at 142-15.

March Feeder cattle were down 52 and half at 168-70.

February class III milk was up 38 at 23-29.