Market Line Report for Friday, January 3rd
Markets opened back up for the first time in 2020 yesterday. From the floor of the CME in Chicago, here’s Scott Shellady.
Shellady…”Corn has been fairly healthy. I mean it has been able to claw back half of that $0.40 down draft that we’ve seen in corn. So that has been something good as of late. Again, we’re a little better here today. We’ve managed to crawl back up to that $3.92 level. Why is that significant? Well, $3.92 is about 24% back from that massive selloff we had from last year when we were at 5 year highs and we went to contract lows.”
That March Corn market he’s referring to closed up $0.03 ½ to $3.91 ½.
Chicago March Wheat up $0.01 ½ to $5.60 ¼.
Kansas City Hard Red Winter wheat futures down a half cent at $4.85 ¼.
Portland prices for soft white wheat of ordinary protein unchanged at $6.15.
Club Wheat of Ordinary Protein back in the market. Bids ranged from $6.15 to $7.90.
Dark Northern Spring wheat prices down yesterday. Those bids now range from $6.98 ¼ to $7.15 ¼ for 14% protein.
Live Cattle futures were down $0.15 to $125.77 1/2 on the February board. Jan Feeder Cattle were down $0.67 ½ to $144.65.
January class III milk started the new year down $0.20 to $17.06.