Soybean Gaining Momentum

This is Matt Rice with the Market Line Report for Nov. 23rd. Soybeans still controlling the grains as corn and wheat fight to regain lost ground in the market. Here's Virginia McGathey with the CME group in Chicago to cover the grains in more detail.

McGathey "I'm Virginia McGathey, here on the floor at the CME Group reporting to you on the soybean market. Today the market started off a little bit lower, we did have 2 way trade here. It started to look like it was going to be a turnaround Tuesday but no, the market did catch a bit and started to move higher. The momentum started to switch and really pushed this number up, we were looking at the 10-31 number as an objective possibly to get there. Well we certainly got there and then a little more."

Chicago May Wheat prices closed the day up ¾, at 441 ¾. May corn ended the day up 1 ¼, at 365 ¾. Portland prices for soft white wheat of Ordinary Protein for March ended the day with a mixed market, up 7 & dn 4 ¾, ranging from 4-72 to 4-87 ¼. Hard Red Winter wheat with 11 ½ % protein, prices for March were up 2 ¼, ranging from 5-09 ¼ to 5-24 ¼. DNS wheat with 14 % protein, prices for March were up 2 ¾, ranging from 6-26 ½ to 6-44 ½. April Live Cattle closed the day up 32 ½ cents, at 109.87 ½. April Feeder cattle were dn 32 ½ cents, at 119.40. Jan. class III milk was up 7 cents at 16-44.