Marketline Report for Friday, March 30th
This is Bob Larson with the Market Line Report for Friday, March 30th. The grain market, corn in particular, gets a boost from the latest USDA report. From the floor of the CME in Chicago, here's Joe Vaclavik.
VACLAVIK ... "Corn market was sharply higher here on Thursday following a bullish acreage report from the USDA. Today, the USDA released their annual perspective plantings and also a quarterly stocks report. The acreage number came in at 88-million and that was more than 2-million acres below last year and about a million-and-a-half below the average trade guess. So, the idea here of the thought that farmers will plant much less corn acreage this year. It was seen as a very, very friendly factor. December futures came within a half of their contract high which was posted earlier this month up at $412."
Chicago May Wheat prices closed yesterday up 5 ½ at 451 ¾
May Corn was up 14 ¼ at 387 ¾
Portland prices for soft white wheat of Ordinary Protein for May ended the day unch ranging from 5-63 to 5-76 Hard Red Winter wheat with 11 ½ % protein, prices for March were up 6 ¼ ranging from 5-97 ¼ to 6-27 ¼ DNS wheat with 14 % protein, prices for March were dn 11 ranging from 6-93 ½ to 7-13 ½
Live Cattle for April were dn $2.25 at 113.45 March Feeder cattle are dn $.37 ½ to 135.57 ½ March Class III milk was dn $.02 cents at 14.23
