South America Weather Impact On Soybeans

This is Matt Rice with today’s Market Line Report for Friday. Dryer weather in South America’s forecast could play a negative role in Soybean production, causing a ripple effect in the US market. Let’s go to Terry Roggensack with CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day dn 18, to finish at 7-77. March Corn was dn 1 ¾, to finish the day at 6-25 ¼. Kansas City Hard Red Winter Wheat prices for March were dn 22 ¼, to settle at 7-93 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-20 to 14-00. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging from 10-20 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were dn 22 ¼, ranging from 9-68 ½ to 9-93 ½. DNS wheat with 14 % protein, prices for March were dn 13 ¾, ranging from 10-11 ½ to 10-22 ½.

Live Cattle for April were dn $.27 ½, closing at 141.62 ½. March Feeder cattle were dn $1.30 to finish the day at 159.50. March Class III milk was up $.52 to settle at 20.69.