Softer Inflation Predictions

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Inflation predictions cut some tension with traders and spark interest in the Beef Market. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Dn 4 ½, to finish at 5-97 ¾. March Corn was Up 1 ½, to finish the day at 4-94 ¼. Kansas City Hard Red Winter Wheat prices for March were Dn 2 ½, to settle at 6-49 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-00 to 7-35. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging 6-90 to 7-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Dn 2 ½, ranging from 6-89 ½ to 7-04 ½. DNS wheat with 14 % protein, prices for Jan. were Up 3 ¼, ranging from 8-17 ¼ to 8-27 ¼.

Live Cattle for Feb. were Up $1.62 ½, closing at 176.87 ½. Jan. Feeder Cattle were Up $.70, to finish the day at 229.00. Dec. Class III milk was Up $.33, to settle at 17.56.