Corn Hits 7-Year Highs

This is Matt Rice with today’s Market Line Report for Thursday. Corn hits 7 year highs, while grains find themselves in a very bullish market to kick off the new year. Virginia McGathey with the CME Group shares more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for May closed the day dn 4 ¼, to finish at 661 ¼. March Corn was up 7 ¼ to close at 524 ½. Kansas City Hard Red Winter Wheat prices for March. were up 3 ¼, to settle at 625 ¾.

Portland prices for Ordinary Club Wheat was Unch, ranging from 6-60 to 6-93. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were up 3 ¼, ranging from 7-60 ¾ to 7-90 ¾. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-40 to 7-00. DNS wheat with 14 % protein, prices for March were up 8, ranging from 7-48 ¾ to 7-58 ¾.

Live Cattle for April were dn, $.17 ½, closing at 117.47 ½. March Feeder cattle were up $.35, to finish the day at 134.32 ½. Feb. Class III milk was up $.22, at 18.90.