Argentina Bans Beef Exports

This is Matt Rice with today’s Market Line Report for Thursday. With Argentina’s ban on beef exports, cattle prices firmed up offering somewhat of a foundation to the market. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 18 ¾, to finish at 679 ¼. July Corn was Unch, to close at 658 ¼. Kansas City Hard Red Winter Wheat prices for July were dn 14, to settle at 633 ¾.

Portland prices for Club Wheat with Ordinary Protein were Unch, Ranging from 7-90 to 8-50. Soft white wheat of Ordinary Protein for July was Unch, ranging from 7-75 to 7-90. Hard Red Winter Wheat with 11 ½ percent Protein, for July were dn 14, ranging from 7-43 ¾, to 7-63 ¾. DNS wheat with 14 % protein, prices for June were dn 16 ½, ranging from 8-02 ½, to 8-12 ½.

Live Cattle for Aug were up $.40, closing at 120.12 ½. Aug Feeder cattle were up $.95, to finish the day at 152.87 ½. June Class III milk was dn $.18, to settle at 18.30.