Brazil Soybean Production Forecast

This is Matt Rice with today’s Market Line Report for Thursday. USDA revised the recent Brazilian Soybean Forecast, predicting less than expected production which would directly affect exports. Here’s Terry Roggensack with the CME Group to share more.

Chicago Soft Red Winter Wheat prices for March closed the day dn 13 ½, to finish at 7-71 ½. March Corn was dn 5, to finish the day at 6-41 ¾. Kansas City Hard Red Winter Wheat prices for March were dn 14, to settle at 8-01.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-50 to 13-50. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging from 10-50 to 11-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were dn 14, ranging from 10-01 to 10-51. DNS wheat with 14 % protein, prices for March were dn 11 ½, ranging from 10-52 ¼ to 10-92 ¼.

Live Cattle for April were dn $.95, closing at 146.87 ½. March Feeder Cattle were dn $1.55 to finish the day at 166.72 ½. March Class III milk was up $.07 to settle at 22.11.