Bearish Wheat Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The Wheat market received some bearish news yesterday as ending stocks were lower than expected. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Dn 4 ½, to finish at 6-74. May Corn was Dn 3, to finish the day at 6-51. Kansas City Hard Red Winter Wheat prices for May were Dn 7 ¾, to settle at 8-68 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch- Up 05, ranging from 7-65 to 8-00. Soft white wheat with 10 ½ % Protein prices for June were Up 5 - Unch, ranging from 7-50 to 7-65. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were Dn 8 ¼, ranging from 9-80 to 10-00. DNS wheat with 14 % protein, prices for June were Dn 11 ¾, ranging from 9-48 to 9-63.

Live Cattle for June was Up $.25, closing at 163.95. May Feeder Cattle were Up $2.20, to finish the day at 207.82 ½. May Class III milk was Up $.14, to settle at 17.91.