Weather Conditions Supporting Rally

Happy Thanksgiving! This is Matt Rice with today’s Market Line Report for Thursday. Soybeans have seen a nice rally recently and mostly due to weather patterns. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day dn 17 ¼, to finish at 8-50 ¼. March Corn was dn 2 ¾, to close at 5-85 ½. Kansas City Hard Red Winter Wheat prices for March were dn 7, to settle at 8-77.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 10-90 to 14-00. Soft white wheat with 10 ½ % Protein for Jan. was Unch, ranging from 10-77 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein for Jan. were dn 7, ranging from 10-37 to 10-72. DNS wheat with 14 % protein, prices for Jan. were dn 5, ranging from 11-45 to 11-60.

Live Cattle for Feb. were up $1.45, closing at 140.87 ½. March Feeder cattle were up $2.22 ½, to finish the day at 167.90. Dec. Class III milk was dn $.01, to settle at 18.32.