Weaker Corn Market Provides Opportunity

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The Beef market took advantage of some weaker corn prices . Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Up 4 ½, to finish at 7-10. May Corn was Up 5 ½, to finish the day at 6-35 ¾. Kansas City Hard Red Winter Wheat prices for May were Up 3 ½, to settle at 8-16 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 8-10 to 8-60. Soft white wheat with 10 ½ % Protein prices for May were Unch, ranging from 8-14 to 8-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Up 3 ½ - 28 ½, ranging from 9-56 ¼ - 9-81 ¼. DNS wheat with 14 % protein, prices for April were Dn 3 ¼, ranging from 9-48 ½ to 9-58 ½.

Live Cattle for April were Dn $.35, closing at 165.12 ½. April Feeder Cattle were Dn $1.22 ½ to finish the day at 193.85. March Class III milk was Dn $.28, to settle at 17.75.