Wheat Surges

This is Matt Rice with today’s Market Line Report for Thursday. Wheat rallies, leading the grain market higher despite world stocks on the other end of the spectrum. 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 8-03. Dec. Corn was up 14 ½, to close at 5-69 ¼. Kansas City Hard Red Winter Wheat prices for Dec. were up 24, to settle at 8-17 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-25 to 14-00. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging from 10-25 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were up 23 ¼, ranging from 9-81 ¾ to 10-11 ¾. DNS wheat with 14 % protein, prices for Jan. were up 23 ½ to 18 ½, ranging from 11-36 ¾ to 11-56 ¾.

Live Cattle for Dec. were dn $.20, closing at 132.00. Jan. Feeder cattle were dn $1.75, to finish the day at 158.05. Dec. Class III milk was dn $.08 to settle at 18.03.