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Matt Rice Wheat On The Rise
by Matt Rice, click here for bio

Program: Market Line
Date: February 15, 2017

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This is Matt Rice with the Market Line Report for Feb. 15th. Wheat finally taking advantage of the market as prices climb well over that $4 mark. Here’s Todd Horwitz from the floor of the CME, to share his thoughts on the grain market.

Horwitz “ Wheat has been rising higher and I think that we’ve seen that over time, we’ve been watching this the high 3’s and we continue to see a nice rally and every pull back has been a nice opportunity to buy. I think that will continue, I think another thing to look at is how depress and pushed down wheat was. Which I think when we really start to get movement in the breakout and being very bullish to space coming into the new year.”

Starting with those Chicago markets, July wheat prices closed the day dn 3 ¼ at 475 ¾. Chicago July Corn prices were dn ¾, to finish the day at 388 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC were unch to dn 2 ¼, ranging from 4-67 to 4-93 ½. Hard Red Winter Wheat with 11.5 % protein, future prices for May were dn 1 ½, ranging from 5-58 to 5-63. DNS Wheat with 14 % protein, prices for May were dn 2 ½, ranging from 6-68 to 6-98. June Live Cattle finished the day up $1.17 ½, at 104.50. May Feeder cattle were up $1.75, at 122.62 ½. March class III milk was up 8 cents at 16-92.

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