Outside Markets Pull Ag Commodities Downward

Outside Markets Pull Ag Commodities Downward

Tim Hammerich
Tim Hammerich
News Reporter
Here with your Market Line Commodity Report, I’m Tim Hammerich

Ag markets were not immune in a day that marked the biggest stock market drop since 2008, and crude oil dropping more than 25%. From the floor of the CME in Chicago, here’s Virginia McGathey.

McGathey… “Even though, it seems like there's a little bit of panic going on. The markets are steady. There's a reason why the the circuit breakers do exist, and that's to steady the market and keep it a little more stable on its way down. Everyone is very worried right now for so many different reasons, but I can assure you that the mechanisms that we have in there are in place to just stop it from all out, wash out. I know it's really . Difficult to take right now, but there will be recovery in our future.”

In closing markets:

Chicago May Wheat futures yesterday rallied back to close up $0.03 to $5.18 ½.

Kansas City Hard Red Winter Wheat down $0.05 ¼ to $4.41.

May Corn closed down $0.03 ¼ to $3.72 ½.

Portland prices for soft white wheat of ordinary protein unchanged ranging at $6.00.

Club Wheat of Ordinary Protein also unchanged at $6.00 to $7.75.

Dark Northern Spring wheat prices down $0.04 ½ ranging from $6.55 ¾ to $6.90 ¾ for 14% protein.

Live Cattle futures were down $2.90 on the April board to $102.85. Feeder Cattle closed locked limit down to $125.55.

Class III milk for April down $ 0.22 to $15.81.

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