Soybean Acreage To Go Up

This is Matt Rice with the Market Line Report for Nov. 17th. A stronger dollar could be a good sign for grains, US soybean producers planning on growing during these down times. Let's check in with Steve Freed with ADM Investor Services as he shares more on AG Futures.

Freed "It seems like the funds are trying to support the grains markets, beans because of the nearby demand and maybe because of the South American problem we also held support right where we were supposed to corn and wheat may be following. Outside markets we've got crude and most commodities and US stocks opening lower on the dollar and the dollar is higher. In China their futures markets were mostly lower it continued to see some panic selling over there as the Chinese kind of cracked down on some of the speculative trading and commodities."

Chicago May Wheat prices closed the day dn 4 ¼, at 428. May corn ended the day dn 3, at 354 ½. Portland prices for soft white wheat of Ordinary Protein for March ended the day dn 4 ½, ranging from 4-59 ¼ to 4-79 ¼. Hard Red Winter wheat with 11 ½ % protein, prices for March were dn 4 ¾, ranging from 4-95 ¾ to 5-10 ¾. DNS wheat with 14 % protein, prices for March were up ¾, ranging from 6-18 ¾ to 6-36 ¾. April Live Cattle were up $1.67 ½, at 108.72 ½. March Feeder cattle striding right along as we come into some gains, up $2.27 ½ at 121.30. Jan. class III milk was up 2 cents at 16-01.