Historic Moves In Corn Market

This is Matt Rice with today’s Market Line Report for Friday. Historic runs in the Corn market this spring launch prices well into the $7 range as traders zero in on $7.25 mark. Let’s go to Scott Shellady with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day up 8 ¾, to finish at 753 ¼. July Corn was up 10 ¼, to close at 718 ¾. Kansas City Hard Red Winter Wheat prices for July were up 9 ¾, to settle at 726 ¾.

Portland prices for Club Wheat with Ordinary Protein were Unch, Ranging from 7-05 to 7-90. 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 up 9 ¾, ranging from 8-41 ¾ to 8-46 ¾. DNS wheat with 14 % protein, prices for June were up 8 ½, ranging from 8-89 ½ to 9-10 ½.

Live Cattle for June were up $1.05, closing at 115.47 ½. Aug Feeder cattle were dn $1.82 ½, to finish the day at 143.40. June Class III milk was dn $.75, to settle at 19.01.