Grains Climb Slightly

I'm Matt Rice with the Market Line Report for Jan 6th. Grain prices are considerably lower than predicted today, producers are eagerly awaiting the next USDA report which will be coming out in a couple of days. Todd Horwitz shares his thoughts from the floor of the CME in Chicago.

Horwitz- "Tuesdays Grains a little bit of a mixed market, but I think the real problem here is that we have violated contract lows and now there is a little bit more concern. Basically I am still very positive to space. However, I'm not willing to commit new money here now to start buying in. If I owned I'm going to hold, but I'm not going to buy any here until we can find some more of a base."

Chicago March Wheat ended yesterday up 3, at 460. March corn ended yesterday up 1 1/2, at 353 1/2. Portland prices for soft white wheat of ordinary protein for Jan were up 1 3/4, ranging from 5-20 to 5-21 1/4. Hard Red Winter wheat with 11 ½ % protein, prices for Jan. were up 5 3/4, ranging from 5-45 to 5-55. DNS wheat with 14 % protein, prices for Jan. also had a mixed market up 3, ranging from 6-07 3/4 to 6-27 3/4. Feb. live cattle closed yesterday up 15 cents, at 136.57 1/2. Jan. Feeder cattle were up 15 cents, at 167.77 1/2. Jan. class III milk was dn 4 cents at 13-52.