Red Across The Board

Red Across The Board

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Jan. 31st. Stock traders are seeing red all across the board, as prices diving in both the Livestock and Grain Markets. Let's check in with Virginia McGathey from the floor of the CME, to hear more about the grains.

McGathey "Looking at the corn and the wheat crop, they both were lower as well. There has been some overflow selling on that. Really it's very difficult with these heavy losses and we're hunting around trying to find some support because they've been having a difficult time the last couple of weeks. In corn specifically, it certainly looks like that the reduction of acres should offer some support."

Let's start with the Chicago markets, July wheat prices closed the day dn 6 ¾, at 442 ¾. Chicago July Corn prices were dn 2 ½, to finish the day at 372 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for May were dn 6 ¼ to unch, ranging from 4-38 ¼ to 4-66. Hard Red Winter Wheat with 11.5 % protein, future prices for May were dn 3 ¼ to 8 ¼, ranging from 5-18 ¼ to 5-23 ¼. DNS Wheat with 14 % protein, prices for May were dn 6 ½, ranging from 6-79 ½ to 6-89 ½. June Live Cattle finished the day dn $2.42 ½, at 104.22 ½. May Feeder cattle were dn $2.97 ½, at 121.82 ½. March class III milk was dn 12 cents at 17-04.

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