Wheat On The Rise

This is Matt Rice with the Market Line Report for March 29th. Wheat leading the pack in grains over the day, producers were tested last week as freezing temperatures played a major factor. Jack Scoville goes over the Weekly Cattle review with the USDA.

Scoville "Hi, grain market trading mostly a little bit higher, kind of a mixed tone here today, but he wheat market really the leader to the upside. Wheat caught in a weather market scenario, some dry conditions being forecast for the Central and Southern Great Plains and this coming on the heels of the freeze we had a week or two ago. Some really legitimate concerns about additional losses out there. Hot and dry weather after a freeze event is exactly what the wheat does not need."

Chicago May Wheat ended yesterday up 8 at 471 ½. May corn ended the day up ½, at 371 ¼. Portland prices for soft white wheat of 10 ½ % protein for March were unch- up 8, ranging from 5-38 to 5-51. Hard Red Winter wheat with 11 ½ % protein, prices for March were up 10 ¼ - 5 ¼, ranging from 5-20 to 5-57. DNS wheat with 14 % protein, prices for March were up 3 ¾, ranging from 6-07 ¾ to 6-17 ¾. April Live Cattle closed yesterday dn 75 cents, at 134.75. April Feeder cattle were dn 25 cents, at 155.20. April class III milk was dn 5 cents, at 13-81.