Inflation Fears Redirect Consumers

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Inflation fears continue to steer consumers toward burger and away from steak. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Unch, to finish at 7-99 ¼. Dec Corn was Up 6 ¾, to finish the day at 6-14. Kansas City Hard Red Winter Wheat prices for Sept were Up 3 ¼, to settle at 8-58 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Dn 20 -25, ranging from 9-00 to 9-75. Soft white wheat with 10 ½ % Protein prices for Oct. were Dn 13 - 19, ranging from 8-70 to 9-08. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Up 03 ¼, ranging from 9-68 ¼ to 9-73 ¼. DNS wheat with 14 % protein, prices for Dec. were Up 11 ¾, to settle at 9-86 ½.

Live Cattle for Oct. were Dn $1.05, closing at 143.17 ½. Sept. Feeder Cattle were Dn $3.15 to finish the day at 182.50. Sept. Class III milk was Up $.47 to settle at 19.87.