Input Prices on the Rise

This is Matt Rice with today’s Market Line Report for Monday. Grains rallied to finish the week, but traders are keeping an eye on spiking Natural gas and fertilizer prices which both play major roles in the industry. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day up 14 ¾, to finish at 7-56. Dec. Corn was up 5 ¾, to close at 5-38. Kansas City Hard Red Winter Wheat prices for Dec. were up 26 ¼, to settle at 7-74.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to up 50, ranging from 10-50 to 13-75. Soft white wheat with 10 ½ % Protein prices for Nov. were Unch to up 50 ranging from 10-50 to 11-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Nov. were up 26 ¼, ranging from 9-24 to 9-49. DNS wheat with 14 % protein, prices for Nov. were up 13 ¼ to 27 ¾, ranging from 11-23 ½ to 11-53.

Live Cattle for Dec. were dn $1.22 ½, closing at 128.32 ½. Jan. Feeder cattle were dn $2.67 ½, to finish the day at 157.32 ½. Dec. Class III milk was dn $.21 to settle at 19.43.