Higher Soybean Production Than Expected

This is Matt Rice with today’s Market Line Report for Friday. Soybeans continue to see poor demand while producers see better yield than expected. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day up 15 ¼ to finish at 7-25 ½. Dec. Corn was dn 2 ¼, to close at 5-36 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were up 20, to settle at 7-31 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 9-50 to 12-60. Soft white wheat with 10 ½ % Protein for Nov. were Unch, ranging from 9-52 to 10-37. Hard Red Winter Wheat with 11 ½ percent Protein for Nov. were up 20, ranging from 8-81 ¾ to 9-06 ¾. DNS wheat with 14 % protein, prices for Nov. were up 09, ranging from 10-52 ½ to 10-54 ½.

Live Cattle for Dec. were dn $1.32 ½, closing at 125.72 ½. Nov. Feeder cattle were dn $2.37 ½, to finish the day at 152.90. Nov. Class III milk was up $.38 to settle at 18.26.