Beef Rally, While Grain Sinks

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The Grain Market took it on the chin yesterday, while the Beef Market saw and opportunity and pounced. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 39 ¼, to finish at 6-99. Dec. Corn was Dn 27 ¼, to finish the day at 5-61. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 27 ½, to settle at 8-40 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 10, ranging from 7-40 to 8-05. Soft white wheat with 10 ½ % Protein prices for Sept. were Unch, ranging from 7-40 to 7-60. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Dn 28 ¾, ranging from 8-84 ½ to 8-89 ½. DNS wheat with 14 % protein, prices for Sept. were Dn 27 ¼, ranging from 9-15 ½ to 9-25 ¼.

Live Cattle for Aug. was Up $1.90, closing at 172.50. Aug. Feeder Cattle were Up $4.82 ½, to finish the day at 233.67 ½. July Class III milk was Dn $.51, to settle at 14.31.