Grains Looking Strong

I'm Matt Rice with the Market Line Report for Jan. 22nd. Corn trading higher on the day, grains making a strong run over the last week. . Here's Oliver Sloup with the Grain Market update from the floor of the CME in Chicago with II Trader.

Sloup- "Happy Thursday to you, from the floor of the CME here in Chicago, I'm Oliver Sloup with II Trader and your grain market update. Relatively good week across the board, especially in the corn market. Trading higher 7 of the last 7 sessions, we'll see if we can do it again. Running up to some resistance here early in the day, 373 ¼ is going to be very pivotal. We got to 372 earlier, but that 373 ¼ is the 100 day moving average. If we can chew through that, the 200 day moving average comes in just above that ."

Chicago March Wheat ended the day up 3 1/2, at 474. March corn ended yesterday dn 1 3/4, at 366 1/4. Portland prices for soft white wheat of ordinary protein for Jan were up 8 1/2, ranging from 5-30 to 5-40. Hard Red Winter wheat with 11 ½ % protein, prices for Jan. were up 4 1/4, ranging from 5-56 1/2 to 5-66 1/2. DNS wheat with 14 % protein, prices for Jan. were up 5 ½, ranging from 6-05 1/4 to 6-25 1/4. Feb. Live cattle closed yesterday up $2.55, at 129.80. Jan. Feeder cattle were up $2.97 1/2 on the day, at 157.97 1/2. Jan. class III milk was dn a penny, at 13-74.