Mixed Result on Grain Markets Following USDA Reports

I’m KayDee Gilkey with the Market Line Report for January 13, 2015.
It was a mixed end to the day’s grain markets. From the floor of the CME Group, Greg Wagner shares his observations of Monday’s markets.
Wagner: “What a way to start the week here with the CME Group in the grain markets with four major USDA Reports coming out — it was like the grain grand slam. I’d like to focus on the row crops right now because this is where an epic battle is going to occur as far as acreage goes — we’re talking about corn and soybeans. When we look at the corn — when everything was said and done here — you had a surprising cut of 2.4 bushels an acre in corn. So that put it down to 171 bushels per acre national yield.”
Chicago March Wheat ended Monday down 8 and 1/4 cents at 5-55 and 1/2. March corn ended the day up 1 and 3/4 cents at 4-02.
Portland prices for soft white wheat of ordinary protein were steady to down 8 and 1/4 cents at mostly 6-56 and 1/2. White club wheat of ordinary protein prices were steady to down 8 and 1/4 cents at mostly 9-24 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down a dime at mostly 6-78 and 1/2. DNS wheat with 14 percent protein prices were down 8 cents at mostly 8-40 and 1/4.
February live cattle were down 15 cents on Monday at 160-45. March Feeder cattle were up 75 cents at 213-30. February class III milk was up a dime at 14-94.