Soybean Crop Conditions

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Unexpected rainfall in the forecast for Argentina brings additional stress to the Soybean market. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 8 ¾, to finish at 7-61 ¼. March Corn was Dn 4, to finish the day at 6-79 ¾. Kansas City Hard Red Winter Wheat prices for March were Up 5, to settle at 8-78 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 8-45 to 9-00. Soft white wheat with 10 ½ % Protein prices for Feb. were Unch, ranging 8-45 to 8-63. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Up 05, ranging from 9-98 ¾ to 10-08 ¾. DNS wheat with 14 % protein, prices for March were Up ¾, settling at 10-02 ¼.

Live Cattle for April were Dn $.32 ½, closing at 163.02 ½. March Feeder Cattle were Up $2.22 ½ to finish the day at 186.15. March Class III milk was Dn $.25 to settle at 17.56.