This is Bob Larson with the Market Line Report for Tuesday May 2nd. The grain market takes off yesterday, with wheat leading the way. With more from the floor of the CME in Chicago, here’s Virginia McGathey…

McGathey “We’ve got a lively addition today with wheat soaring in the market, really leading all grains higher. Wheat today up double digits, almost 24 cents. Cold and rainy weather is one thing, and it has been hampering some of the wheat fields, but the snow? I mean, who would have expected snow at this time? Certainly in Kansas affecting areas and Oklahoma and even down into Texas and all of the Western Plains. Worries of seriously significant reduced production definitely had everyone worried, especially since last Fall, we have planted the fewest amount of acres in over a century. So, already it was going to be a very small crop.”

Chicago May Wheat prices closed yesterday up 24 ½ at 441 May corn ended the day up 11 ½ at 368 ¾

Portland prices for soft white wheat of Ordinary Protein for May ended the day up 6 ½ ranging from 4-70 to 4-87 ¾ Hard Red Winter wheat with 11 ½ % protein, prices for May were up 28 ranging from 5-27 ¾ to 5-42 ¾ DNS wheat with 14 % protein, prices for May were up 9 ranging from 6-49 ¾ to 6-84 ¾ .

Live Cattle were up $0.10 , at 124.30 May Feeder cattle were dn $.95 at 148.60 . Class III milk was dn 02 cents at 15-33.