Drier Forecasts Ahead In CornBelt

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. Technical indicators suggest short-term lows in the corn market with drier forecasts in the coming days. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up 32, to finish at 8-36 ½. Dec. Corn was up 11 ¼, to finish the day at 5-96 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were Up 37 ¾, to settle at 8-89 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 30, ranging from 9-00 to 9-80. Soft white wheat with 10 ½ % Protein prices for Sept. were Unch – Up 30, ranging 9-00 to 9-30. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Up 37 ¾, ranging from 9-74 ¼ to 10-04 ¼. DNS wheat with 14 % protein, prices for Sept. were Up 48 ¼, ranging from 9-94 ½ to 10-14 ½.

Live Cattle for Aug were Up $.05, closing at 134.55. Aug Feeder Cattle were Dn $.82 ½ to finish the day at 172.47 ½. Aug Class III milk was Up $.40 to settle at 21.84.