Markets Tighten Up Following Fed Rate Hike

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. With another Fed Rate hike Wednesday, markets across the board tightened up as traders absorbed the news. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Dn 1 ½, to finish at 7-49 ¼. March Corn was Dn 3, to finish the day at 6-50 ½. Kansas City Hard Red Winter Wheat prices for March were Dn 15, to settle at 8-50 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were UNCH, ranging from 8-55 to 9-30. Soft White Wheat with 10 ½ % Protein prices for Feb. were UNCH, ranging from 8-58 to 8-85. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were Dn 15, ranging from 9-70 ¼ to 9-90 ¼. DNS wheat with 14 % protein, prices for Feb. were Dn 5 ½, ranging from 9-97 ¼ to 10-17 ¼.

Live Cattle for Feb. were Dn $.65, closing at 155.70. Jan. Feeder Cattle were Dn $.62 ½, to finish the day at 183.60. Jan. Class III milk was Up $.27, to settle at 19.52.