Drought Concerns on Crops

This is Matt Rice with today’s Market Line Report for Friday. Grains found a little spark to close out the day, but concerns of drought could be a factor in the coming weeks. 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 6 ¼, to finish at 729. July Corn was up 4 ¼, to close at 648 ¼. Kansas City Hard Red Winter Wheat prices for July were dn 2, to settle at 694 ½.

Portland prices for Soft white wheat of Ordinary Protein for June was Unch, ranging from 6-70 to 7-90. Hard Red Winter Wheat with 11 ½ percent Protein, for June were dn 2, ranging from 8-09 ½ to 8-14 ½. DNS wheat with 14 % protein, prices for June were up 12 ½, ranging from 8-49 ½ to 8-64 ½.

Live Cattle for June were up $.60, closing at 116.05. Aug Feeder cattle were up $.97 ½, to finish the day at 149.87 ½. May Class III milk was UNCH, to settle at 19.22.