Grains In the Red

This is Matt Rice with the Market Line Report for Dec. 1st. Grains looking to get back on track as there was a lot of red in the field today. Let's go to Scott Shellady from the floor of the CME in Chicago to explain more on the Grain market.

Shellady "Hi, I'm Scott Shellady here on the CME floors in Chicago. Let's focus in on beans for a second, lower on the day they had a tuff go here. Kind of melted on us, I think over the last 6 days we've seen funds are low in contracts. We need to feed the bull every day, as the old traders would say. If you don't get anything really bullish, these things kind of tend to weigh heavily."

Chicago Dec. Wheat prices closed the day dn 3 ½, at 380. Chicago March Wheat prices closed yesterda dn 6, at 402 ¾. Prices for May wheat were dn 6 ¾ to finish the day at 415 ¼.

Chicago March corn prices closed the day down 8 at 409 ¾. Chicago Hard Red Spring wheat, prices for Dec. were up 5 ¼, at 539 ¼. May corn ended the day dn ¾, at 355 ¾. April Live Cattle closed the day up $1.52 ½, at 111.67 ½. April Feeder cattle were up $1.10, at 123.80. Feb. class III milk was up 12 cents at 16-46.