Corn Surges Along With Ethanol Production

This is Matt Rice with today’s Market Line Report for Friday. Corn surged yesterday as prices directly reflecting an increase in ethanol production. Let’s go to Scott Shellady with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day up 12 ½ to finish at 628 ¾. May Corn was up 19 ¼, to close at 579 ¾. Kansas City Hard Red Winter Wheat prices for May were up 13 ¼, to settle at 583 ¾.

Portland prices for Ordinary Club Wheat were Unch up 35, ranging from 6-70 to 7-05. Soft white wheat of Ordinary Protein for May was Unch – dn 85, ranging from 6-70 to 6-80. Hard Red Winter Wheat with 11 ½ percent Protein, for June were up 13 ¾, ranging from 6-98 ¾ to 7-03 ¾. DNS wheat with 14 % protein, prices for June were up 15 ¾ - 20 ¾, ranging from 7-55 ¼ to 7-65 ¼.

Live Cattle for June were dn $.25, closing at 125.02 ½. May Feeder cattle were dn $1.07 ½, to finish the day at 151.60. May Class III milk was up $.22, at 19.40.