Wheat Rallies

This is Matt Rice with today’s Market Line Report for Thursday. The wheat market really picking up momentum yesterday, while corn closed higher for the 13th day in a row. Virginia McGathey with the CME Group explains more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March closed the day up 22 ¼, to finish at 640 ¾. March Corn up 8 ½, to close at 474 ¼. Kansas City Hard Red Winter Wheat prices for March. were up 16 ¼, to settle at 601 ¼.

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 16 ¼, ranging from 7-46 ¼ to 7-66 ¼. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-40 to 6-70. DNS wheat with 14 % protein, prices for March were up 15 ¾, ranging from 7-21 ¼ to 7-31 ¼.

Live Cattle for Feb. were dn $.12 ½, closing at 114.45. March Feeder cattle were Dn $1.47 ½, to finish the day at 139.75. Feb. Class III milk was dn $.02, at 17.91.