Volatile Market In Grains

This is Matt Rice with the Market Line Report for May 27th. Both livestock and grains in the green all across the board, but prices have been shaky due to some weather patterns in the Midwest. Here's Oliver Sloup to go over the details from the floor of the CME in Chicago, with II Trader.

Sloup "Happy Thursday to you from the floor of the CME here in Chicago, I'm Oliver Sloup with II Trader and your grain market update. It has been a choppy session and volatile session as traders look to square things up ahead of a long holiday weekend. I want to start with the corn contract, looking at the July futures. Traded a lot higher to open, the overnight session took us into the early morning session, but when the floor opened we saw a lot of pressure come into the market. A long liquidation and producers taking some risk off the table."

Chicago July Wheat prices were up 15 ¼, at 481 ¾. July corn ended the day up 3 ½, at 408 ¾. Portland prices for soft white wheat of 10 ½ % protein for June were up 6 – 6 ¼, ranging from 5-32 to 5-41 ¼. Hard Red Winter wheat with 11 ½ % protein, prices for May were up 11 ¼, ranging from 5-37 ¼ to 5-52 ¼. DNS wheat with 14 % protein, prices for May were up 12 ½, ranging from 6-24 ½ to 6-39 ½. June Live Cattle closed the day up 77 ½ cents at 118.77 ½. May Feeder cattle were up 42 ½ cents, at 145.92 ½. June class III milk was up 28 cents cents at, 12-96.