Soybean Fundamentals Not Enough

This is Matt Rice with today’s Market Line Report for Friday. Soybeans fail to break out to the upside, even with bullish factors in their favor. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day up 18 ½, to finish at 8-04 ¾. March Corn was up 3, to finish the day at 6-50. Kansas City Hard Red Winter Wheat prices for May were up 15 ¾, to settle at 8-27 ¾.

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 up 15, ranging from 10-23 to 10-73. DNS wheat with 14 % protein, prices for March were up 5 ¼, ranging from 10-67 ¼ to 11-12 ¼.

Live Cattle for April were dn $.15, closing at 146.77 ½. March Feeder Cattle were dn $1.25 to finish the day at 166.20. March Class III milk was up $.04 to settle at 22.35.