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Matt Rice Interest Rates Increasing
by Matt Rice, click here for bio

Program: Market Line
Date: March 10, 2017

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This is Matt Rice with the Market Line Report for March 10th. Taking a look at yesterday’s crop report, traders are keeping an eye on those higher interest rates as they continue to grow. Let’s go to Virginia McGathey from the floor of the CME in Chicago as she explains more on the Grain market.

McGathey “Reporting to you on the grain market, today we had the crop report for March. Let’s start with Soybeans it was lower, the heavy Brazilian crop really started the day out even before the report came in. It was 10 cents lower, so that’s 5 days in a row that the market came down. So it certainly looked like there wasn’t going to be anything positive about this report. So the US dollar is so strong, really weighing heavy on these prices.”

Chicago markets, July wheat prices closed the day dn 3, at 460 ¾. Chicago July Corn prices were dn 5 ¼, to finish the day at 374 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC were dn 3- Unch, ranging from 4-69 ¾ to 4-78. Hard Red Winter Wheat with 11.5 % protein, future prices for Aug. NC were dn 3, ranging from 5-48 ¾ to 5-63 ¾. DNS Wheat with 14 % protein, prices for Aug. NC were up 2 ½, ranging from 6-67 ¾ to 6-72 ¾. Aug. Live Cattle finished the day up 35 cents, at 102.27 ½. May Feeder cattle were up $1.77 ½, at 123.92 ½. May class III milk was dn 21 cents at 16-04.

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