Inauguration Day After Markets

This is Matt Rice with the Market Line Report for Jan. 24th. With Inauguration day in the books, traders anxiously awaiting to see how the markets might be effected. Let's check in with Scott Shellady from the floor of the CME, to hear more about the grains.

Shellady "A lot of traders and a lot of money stopped trading, because they wanted to wait and see what happened on Inauguration day and what the president had to say or what he didn't have to say. How the foreign policy or his new policies were going to affect what traders trade. Things kind of got locked up a little bit and we really haven't been unlocked. It was a quiet session but beans kind of took in the chin might have been overblowing it a little bit, but we were definitely on the defense early on."

As we take a look at those Chicago markets, July wheat prices closed the day up 3, at 460 ¾. Chicago July Corn prices were up ¼, to finish the day at 383 ¼. Prices in Portland for Soft White Winter Wheat of ordinary protein for May were up 3 ¾, ranging from 4-47 to 4-57. Hard Red Winter Wheat with 11.5 % protein, future prices for April were up 2, ranging from 5-27 to 5-42. DNS Wheat with 14 % protein, prices for April were dn 3 ¼, ranging from 6-77 ¼ to 6-82 ¼. June Live Cattle finished the day dn 10 cents, at 108.57 ½. April Feeder cattle were dn 17 ½ cents, at 130.02 ½. March class III milk was dn 18 cents at 17-22.