China Wheat Production Drives Prices Lower

This is Matt Rice with today’s Market Line Report for Wednesday. The Wheat Market see’s some pull back following news of China Wheat Production dropping. Let’s go to Terry Roggensack with the CME Group to find out.

Chicago Soft Red Winter Wheat prices for May closed the day dn 7 ½, to finish at 12-86 ½. May Corn was up 2 ¼, to finish the day at 7-53. Kansas City Hard Red Winter Wheat prices for May were dn 52, to settle at 11-99 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-80 to 13-30. Soft white wheat with 10 ½ % Protein prices for April were UNCH, ranging from 11-29 to 11-84. Hard Red Winter Wheat with 11 ½ percent Protein prices for April were dn 55 ½ to 52, ranging from 12-78 ¼ to 14-49 ½. DNS wheat with 14 % protein, prices for April were dn 56 ½ to 53 ½, ranging from 11-61 ½ to 12-99.

Live Cattle for April were up $1.15, closing at 139.05. April Feeder Cattle were up $.65 to finish the day at 160.32 ½. April Class III milk was up $.58 to settle at 24.55.