Grains Rally As Drought Conditions Intensify

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. Grains rallied yesterday, somewhat driven by drier drought conditions in key grower areas. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up 31 ½, to finish at 6-72 ¾. Dec. Corn was Up 25 ¼, to finish the day at 5-74 ½. Kansas City Hard Red Winter Wheat prices for Sept. were Up 26 ½, to settle at 8-08 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 15, ranging from 7-15 to 7-90. Soft white wheat with 10 ½ % Protein prices for Aug. were Unch – Up 05, ranging from 7-05 to 7-40. Hard Red Winter Wheat with 11 ½ percent Protein prices for Aug. were Up 26 ½, ranging from 8-58 ¾ to 8-88 ¾. DNS wheat with 14 % protein, prices for Aug. were Up 25 ¾, ranging from 9-08 ½ to 9-13 ½.

Live Cattle for Aug. was Up $.10, closing at 171.07 ½. Aug. Feeder Cattle were Dn $1.77 ½, to finish the day at 234.12 ½. June Class III milk was Dn $.12, to settle at 14.93.