Corn Rebounds

This is Matt Rice with today’s Market Line Report for Thursday. Corn leads the rally in the grain market, traders focusing on contract highs and lows as an indicator to which direction the market will go from here. Here’s Virginia McGathey with the CME Group to share more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March closed the day up 3 ½, to finish at 648 ¼. March Corn was up 9 to close at 552. Kansas City Hard Red Winter Wheat prices for March. were up 6 ½, to settle at 625 ½.

Portland prices for Ordinary Club Wheat were Unch, ranging from 7-30 to 7-55. Soft white wheat of Ordinary Protein for March was Unch, ranging from 7-00 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein, for March were 6 ½, ranging from 7-50 ½ to 7-65 ½. DNS wheat with 14 % protein, prices for March was up 4, ranging from 7-30 to 7-55.

Live Cattle for April were dn $.07 ½, closing at 122.45. March Feeder cattle were dn $.60, to finish the day at 138.52 ½. March Class III milk was dn $.22, at 16.03.