Soybeans Surge Higher

This is Matt Rice with today’s Market Line Report for Wednesday. Soybeans surge higher yesterday finishing with a 42 cent rally to close the day, while corn and wheat follow suit. Here’s Scott Shellady with the CME Group to hear more.

Shellady “ .”

Chicago Soft Red Winter Wheat prices for March closed the day up 4 ¼, to finish at 618 ½. March Corn up 9 ½, to close at 466. Kansas City Hard Red Winter Wheat prices for March. were up 8, to settle at 585.

Portland prices for Ordinary Club Wheat was Unch, ranging from 6-40 to 6-75. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were up 8, ranging from 7-30 to 7-50. Soft white wheat of Ordinary Protein for March was Dn 10 to Unch, ranging from 6-40 to 6-70. DNS wheat with 14 % protein, prices for March were up 3 ¾, ranging from 7-05 ½ to 7-15 ½.

Live Cattle for Feb. were dn $1.20, closing at 114.57 ½. March Feeder cattle were Dn $1.37 ½, to finish the day at 141.22 ½. Feb. Class III milk was up $.20, at 17.93.