Corn Finds Momentum

This is Matt Rice with today’s Market Line Report for Wednesday. Yesterday Corn found momentum in the market as bullish factors start to add up. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 21 ¼, to finish at 7-99. March Corn was up 7 ¼, to close at 5-98 ¼. Kansas City Hard Red Winter Wheat prices for March were up 28 ¼, to settle at 8-41 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-50 to 13-75. Soft white wheat with 10 ½ % Protein prices for Feb. were Unch, ranging from 10-50 to 11-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were up 28 ¼, ranging from 10-06 ½ to 10-36 ½. DNS wheat with 14 % protein, prices for Feb. were up 5 ¾, ranging from 11-25 ½ to 11-45 ½.

Live Cattle for Feb. were up $.95, closing at 136.92 ½. March Feeder cattle were up $1.32 ½, to finish the day at 161.82 ½. Jan. Class III milk was up $.09 to settle at 19.19.