Corn Keeping Eye On Weather

This is Matt Rice with today’s Market Line Report for Wednesday. Corn trades higher, despite poor crop conditions but weather remains the top factor. Let’s go to Scott Shellady with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for July closed the day dn 13, to finish at 661 ½. July Corn was up 8 ¼, to close at 667 ½. Kansas City Hard Red Winter Wheat prices for Sept. were dn 15, to settle at 621 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, to settle at 8-50. Soft white wheat of Ordinary Protein for Aug. was Unch, ranging from 7-95 to 8-50. Hard Red Winter Wheat with 11 ½ percent Protein, for Aug. were dn 15, ranging from 7-21 ¼ to 7-46 ¼. DNS wheat with 14 % protein, prices for Aug. were up 1 ¼ ranging from 8-45 ¼ to 8-65 ¼.

Live Cattle for Aug were up $2.62 ½, closing at 123.90. Aug Feeder cattle were up $2.22 ½, to finish the day at 156.82 ½. July Class III milk was dn $.34, to settle at 17.13.