Soybeans Gain Momentum

This is Matt Rice with today’s Market Line Report for Wednesday. Soybeans continue to gain momentum overnight as they find themselves in an acre war with Corn. Let’s go to Scott Shellady with the CME Group to hear more.

Shellady “ .”

Chicago Soft Red Winter Wheat prices for May closed the day up ½, to finish at 670 ¼. May Corn was up 2 to close at 552 ½. Kansas City Hard Red Winter Wheat prices for May were dn 3 ¾, to settle at 647 ¼.

Portland prices for Ordinary Club Wheat were Unch, ranging from 7-40 to 7-70. Soft white wheat of Ordinary Protein for May was Unch- up 25, ranging from 7-20 to 7-65. Hard Red Winter Wheat with 11 ½ percent Protein, for May were dn 3 ¾, ranging from 7-77 ¼ to 7-87 ¼. DNS wheat with 14 % protein, prices for April were dn 1 ¾, ranging from 7-58 to 7-73.

Live Cattle for April were dn $1.85, closing at 121.20. April Feeder cattle were dn $.67 ½, to finish the day at 142.60. March Class III milk was dn $.50, at 15.86.