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Matt Rice Grains Slightly Higher
by Matt Rice, click here for bio

Program: Market Line
Date: February 07, 2017

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This is Matt Rice with the Market Line Report for Feb. 7th. The Grain market slightly higher over the day as trader’s preparing for another USDA report coming out later this week. Let’s check in with Scott Shellady from the floor of the CME, to hear more about the grains.

Shellady “Overnight we came in 10-12 better, we ended up selling 9 better but we did see that market come back to like 5 or 6 better. So a decent move today in the bean market, and largely I think that the market woke up to the fact that we have sold off as of late. We had China come back from its holiday and maybe we’re expecting some decent exporting business.”

Let’s start with the Chicago markets, July wheat prices closed the day dn 7 ½, at 449. Chicago July Corn prices were dn 1 ½, to finish the day at 378 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for May were dn 7 ½ to 3, ranging from 4-45 ½ to 4-62. Hard Red Winter Wheat with 11.5 % protein, future prices for May were dn 4 ¾, ranging from 5-28 ¾ to 5-33 ¾. DNS Wheat with 14 % protein, prices for May were dn 2, ranging from 6-84 to 6-94. June Live Cattle finished the day up 17 ½ cents, at 105.97 ½. May Feeder cattle were also up 17 ½ cents, at 122.62 ½. April class III milk was dn 27 cents at 16-99.

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