Interest Rates Rise and Move Move the Grain Market

This is Tommy Allen with the Ag Information Network and today’s Market Line Report. Stocks Fall and interest rates rise after the largest rate hike the feds have done since 1994. The rate hike played into the grain markets. Let’s go to Virginia McGathey with the CME Group to explain why.

Chicago Soft Red Winter Wheat prices for Sept. closed to finish the day at 10-92 ½. Sept. December Corn was at 7-35 1/4. Kansas City Hard Red Winter Wheat prices for Sept. were at 11-57 3/4.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-00 to 11-90. Soft white wheat with 10 ½ % Protein prices for Aug were Unch, ranging from 11.2000-11.4000. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were ranging from 12.4075-12.7075. DNS wheat with 14 % protein, prices for Aug. were ranging from 12.6950-13.0450.

Live Cattle for Aug closed 136.32 1/2. Aug Feeder Cattle finished the day at 173.27 ½. Aug Class III milk was at 23.69.