Grains Continue to Surge

This is Matt Rice with today’s Market Line Report for Tuesday. The grain market kicked the week off with a bang as grains continues to surge. Soybeans and Corn both hit 8 year cash highs, with tighter balance sheets driving the rally. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day up 27 ¼, to finish at 739 ½. July Corn was up 25, to close at 657 ½. Kansas City Hard Red Winter Wheat prices for July were up 28 ¼, to settle at 708 ¾.

Portland prices for Ordinary Club Wheat were Unch, ranging from 6-70 to 7-05. Soft white wheat of Ordinary Protein for June was Unch, to settle at 6-70. Hard Red Winter Wheat with 11 ½ percent Protein, for June were up 28 ¾, ranging from 8-23 ¾ to 8-28 ¾. DNS wheat with 14 % protein, prices for June were up 23 ½, ranging from 8-59 to 8-69.

Live Cattle for June were up $.55, closing at 116.27 ½. Aug Feeder cattle were up $.40, to finish the day at 150.30. May Class III milk was up $.28, to settle at 19.28.