Supply Shortages Continue

This is Matt Rice with today’s Market Line Report for Wednesday. July Corn continues to find support from Ukraine, fertilizer shortages and poor planting conditions. Let’s go to Terry Roggensack with the CME Group to see where we left off.

Chicago Soft Red Winter Wheat prices for July closed the day dn 19 ¾, to finish at 11-09. July Corn was dn 7 ¼, to finish the day at 7-99 ¾. Kansas City Hard Red Winter Wheat prices for July were dn 12 ¾, to settle at 11-76 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-00 to 13-00. Soft white wheat with 10 ½ % Protein prices for June were Unch, ranging from 11-00 to 11-54. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were dn 12 ¾, ranging from 12-76 ¼ to 12-96 ¼. DNS wheat with 14 % protein, prices for June were dn 5 ¾, ranging from 12-52 ¼ to 12-92 ¼.

Live Cattle for June were up $.77 ½, closing at 136.57 ½. May Feeder Cattle were up $1.62 ½ to finish the day at 160.77 ½. May Class III milk was dn $.75 to settle at 24.38.