Grain Rally Continues, Cattle and Milk Weaker

Grain markets continued to strengthen Tuesday, while cattle markets seem to be running low on buyers. From the floor of the CME in Chicago, here is Chris Robinson.

Robinson…”You've got Kansas City wheat today at a five-month high. You've got Chicago wheat at about a six-month high. If you look at Kansas City wheat and Chicago wheat, they are 70 cents off the bottom and a dollar off the bottom respectively. Now the risk is if these prices don't hold up. There's some hitch. But at the end of the day, it's given bull's a great two or three weeks here are great rally up and a, a great opportunity for our producers to hedge.”

Chicago March Wheat futures up $0.06 1/2 to $5.56 1/4.

March Corn closed up $0.02 to $3.90

Kansas City Hard Red Winter Wheat futures closed up $0.05 to $4.67.

Portland prices for soft white wheat of ordinary protein ended the day yesterday up $0.05 cents to $6.05.

Dark Northern Spring wheat prices for Dec were up another $0.01 ¾ between $6.12 to $6.32 for 14% protein.

Club Wheat of Ordinary Protein for Dec at yesterday’s close ranged from $6.05 to $6.40.

Live Cattle futures were down $0.95 to $126.30 on the February board. Jan Feeder Cattle down $0.10 to $145.15.

Class iii milk down again on Tuesdays close down $0.39 at $16.96.