Australia Rainfall Drives US Prices

This is Matt Rice with today’s Market Line Report for Wednesday. Quality of Wheat in Australia takes a hit with recent heavy rainfall, driving US Wheat prices higher. Let’s go to Joe Vaclavik’s Podcast “Grain Markets and Other Stuff” to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 10, to finish at 8-67 ½. March Corn was up 4, to close at 5-88 ¼. Kansas City Hard Red Winter Wheat prices for March were up 17 ½, to settle at 8-84.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-90 to 14-00. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging from 10-77 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were up 17 ½, ranging from 10-44 to 10-79. DNS wheat with 14 % protein, prices for Feb. were up 13 ¾, ranging from 11-45 ½ to 11-60 ½.

Live Cattle for Feb. were up $.45, closing at 139.42 ½. Jan. Feeder cattle were up $2.67 ½, to finish the day at 164.37 ½. Jan. Class III milk was dn $.24 to settle at 18.75.