Acreage Report Shocks Traders

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Traders continue to digest last Friday’s acreage report, along with the upcoming weather forecast. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Dn 8 ½, to finish at 6-49 ½. Dec. Corn was Dn 12, to finish the day at 4-94 ½. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 25 ½, to settle at 8-18 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 10, ranging from 6-95 to 7-35. Soft white wheat with 10 ½ % Protein prices for Sept. were Up 10 -Unch, ranging from 6-85 to 7-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for Sept. were Dn 35 ½ - 25 ½, ranging from 8-48 ¼ to 8-68 ¼. DNS wheat with 14 % protein, prices for Sept. were Dn 10 ¼, ranging from 8-97 ¾ to 9-17 ¾.

Live Cattle for Aug. was Up $2.42 ½, closing at 177.00. Aug. Feeder Cattle were Up $3.15, to finish the day at 245.42 ½. Aug. Class III milk was Up $.15, to settle at 14.52.