Wheat Leads Rally

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle find resistance in the market while the grain market sees a nice rally. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day up 24 ½, to finish at 7-97 ¼. Dec. Corn was up 10 ¾, to close at 5-79. Kansas City Hard Red Winter Wheat prices for Dec. were up 20 ¾, to settle at 8-06 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to up 25, ranging from 10-25 to 14-00. Soft white wheat with 10 ½ % Protein prices for Dec. were Unch to up 25, ranging from 10-25 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were up 29 ½ to 20 ¾, ranging from 9-65 ¼ to 9-86 ½. DNS wheat with 14 % protein, prices for Dec. were up 23 ¾ to 13 ¼, ranging from 11-71 ¾ to 12-05 ½.

Live Cattle for Dec. were dn $.42 ½, closing at 128.85. Jan. Feeder cattle were dn $3.40, to finish the day at 152.72 ½. Dec. Class III milk was up $.16 to settle at 18.62.