New Year Markets

New Year Markets

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Jan. 3rd. As we take a look at the year-end grain reports, Wheat was dn 13 % while Corn finished pretty close to even, down slightly, and of course Soybeans leading the way up 17% over the year. Let's go to Virginia McGathey from the floor of the CME in Chicago to hear more on the grain market.

McGathey "Today marks the last day of trading for the year and beans are up 17% for the year. So that's a really big jump, and certainly if you put that against the wheat, wheat's down 13% for the year. Corn was about flat, maybe a little bit off somewhat, but I think that's a big divergence in the grain market considering the big surging US dollar index."

Chicago markets, July wheat prices closed the day up 2 ½, at 434 ¾. Chicago July Corn prices were up 1 ¼, to close the day at 363 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for April were up 2 ¾, ranging from 4-48 ½ to 4-60 ½. Hard Red Winter Wheat with 11.5 % protein, future prices for April were up 3, at mostly 5-15. DNS Wheat with 14 % protein, prices for March were up 2 ¼, ranging from 6-44 to 6-59. April Live Cattle closed the day dn $1.17 ½, at 114.67 ½. April Feeder cattle were dn $1.67 ½, at 125.00. Feb. class III milk was dn 17 cents at 16-93.

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