Geopolitical Concerns Slow Market Gains

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Beef Market pulls back slightly, testing new lows as geopolitical concerns rise. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Dn 5 ¾, to finish at 5-98 ¾. Dec. Corn was Dn 1, to finish the day at 4-89. Kansas City Hard Red Winter Wheat prices for Dec. were Dn 2, to settle at 6-66 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch – Up 05, ranging from 7-00 to 7-40. Soft White Wheat with 10 ½ % Protein prices for Dec. were Unch, ranging from 6-90 to 7-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for Dec. were Up 3 ¾ - 8 ¾, ranging from 7-10 ½ to 7-20 ½. DNS wheat with 14 % protein, prices for Dec. were Up 5 ¾ - 10 ¾, ranging from 8-08 ½ to 8-23 ½.

Live Cattle for Dec. were Up $.32 ½, closing at 186.87 ½. Jan. Feeder Cattle were Up $1.27 ½, to finish the day at 252.80. Nov. Class III milk was Up $.44, to settle at 17.83.