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Matt Rice Brazil Markets Looming Over US
by Matt Rice, click here for bio

Program: Market Line
Date: March 17, 2017

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This is Matt Rice with the Market Line Report for March 17th. Brazils massive crop looming over the US market as they continue on with their harvest. Let’s go to Virginia McGathey from the floor of the CME in Chicago as she explains more on the Grain market.

McGathey “Fundamentally speaking, the Brazil harvest is marching on and it’s still has a huge crop coming and that kind of looms large over all the grain markets right now. We had a little bit of easing in the US dollar index that also helped kind of underpin some of the markets, that was very helpful. Wheat now did not get too much a boost today, but the sub-freezing temperatures are still a concern to everyone that’s watching to see if there’s going to be some damage.”

Chicago markets, July wheat prices closed the day up ¼, at 450 ½. Chicago July Corn prices were up 2 ½, to finish the day at 373 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC were up ¼- Unch, ranging from 4-60 ½ to 4-67. Hard Red Winter Wheat with 11.5 % protein, future prices for Aug. NC were up 2 ¼, ranging from 5-36 to 5-51. DNS Wheat with 14 % protein, prices for Aug. NC were up 7, ranging from 6-74 ¼ to 6-79 ¼. Aug. Live Cattle finished the day up 95 cents, at 104.87 ½. May Feeder cattle were up $1.70, at 129.45. May class III milk was dn 21 cents at 15-15.

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