Dry Crop Conditions In Brazil

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. Brazil continues to direct the US Soybean market as traders keep an eye on dry crop conditions in the region. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 13 ¼, to finish at 6-13 ½. March Corn was Up 1 ¼, to finish the day at 4-66 ½. Kansas City Hard Red Winter Wheat prices for March were Up 4 ¼, to settle at 6-25 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 10 - Unch, ranging from 6-95 to 7-30. Soft white wheat with 10 ½ % Protein prices for March were Dn 10 - Unch, ranging 6-50 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Up 4 ¼, ranging from 6-85 ¾ to 6-90 ¾. DNS wheat with 14 % protein, prices for March were Up 2 ¾, ranging from 7-91 ¼ to 8-01 ¼.

Live Cattle for Feb. were Dn $.72 ½, closing at 171.12 ½. March Feeder Cattle were Dn $1.37 ½, to finish the day at 225.65. Feb. Class III milk was Up $.07, to settle at 15.62.