Crops Yields Weaken With Record Fertilizer Prices

This is Matt Rice with today’s Market Line Report for Wednesday. With Fertilizer prices at all-time highs, crop yields could take a hit as farmers are forced to cut costs in production. 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 35, to finish at 10-45 ¼. May Corn was up 9 ¼, to finish the day at 7-59 ¾. Kansas City Hard Red Winter Wheat prices for May were up 45, to settle at 10-82 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch to up 25, ranging from 10-75 to 12-50. Soft white wheat with 10 ½ % Protein prices for June were Unch to up 04, ranging from 10-75 to 11-04. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were up 45, ranging from 11-84 ¼ to 12-04 ¼. DNS wheat with 14 % protein, prices for June were up 26 ¾, ranging from 11-91 ¾ to 12-31 ¾.

Live Cattle for June were dn $1.60, closing at 133.32 ½. May Feeder Cattle were dn $3.47 ½ to finish the day at 159.00. May Class III milk was up $.41 to settle at 24.40.