Volatile Wheat Market

This is Matt Rice with the Market Line Report for Jan. 20th. Wheat trying to build a solid foundation, as volatile prices hope to create more demand in the market. Let's go to Todd Horwitz from the floor of the CME in Chicago to hear more on the Grain Report.

Horwitz "As we now look into the grain market, especially wheat, we are now in a break out patter in wheat and wheat has continued to hold up stronger. Really the balance of the space, we've now come into what was really the most ignored commodity, now is becoming one of the darlings. It has broken out above some pretty key resistance."

Checking in with those Chicago markets, July wheat prices closed the day dn 6 ¼, at 460. Chicago July Corn prices were up ¾, to finish the day at 380 even. Prices in Portland for Soft White Winter Wheat of ordinary protein for May were dn 6 ¾ - 8, ranging from 4-39 ¼ to 4-52. Hard Red Winter Wheat with 11.5 % protein, future prices for April were dn 10, ranging from 5-24 ¼ to 5-39 ¼. DNS Wheat with 14 % protein, prices for April were up ¼, ranging from 6-84 ¼ to 6-89 ¼. June Live Cattle finished the day up 25 cents, at 109.10. April Feeder cattle were up 40 cents, at 129.35. March class III milk was up 14 cents at 17-42.