Inflation Fears Continue To Drive Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. The Beef market has consumers on edge as the Fed’s suggest more Rate hikes in the near future. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Unch, to finish at 7-76 ¼. May Corn was Up 2 ½, to finish the day at 6-77 ½. Kansas City Hard Red Winter Wheat prices for May were Up 8 ½, to settle at 8-95 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 8-45 to 8-95. Soft white wheat with 10 ½ % Protein prices for April were Unch, ranging 8-45 to 8-70. Hard Red Winter Wheat with 11 ½ percent Protein prices for April were Up 8 ½, ranging from 10-25 ¾ to 10-40 ¾. DNS wheat with 14 % protein, prices for April were Dn ¼, ranging from 10-08 ½ to 10-18 ½.

Live Cattle for April were Up $.57 ½, closing at 164.65. March Feeder Cattle were Up $.30 to finish the day at 186.52 ½. March Class III milk was Up $.01, to settle at 17.65.