Argentina Plans On Increasing Corn Crop

This is Matt Rice with the Market Line Report for Sept 16th. Grains easing their way through the day, big news in Argentina as they plan to increase corn production by 25 %. Here's Gary Kozlowski with Farr Financial with more from the floor of the CME.

Scoville "Let's take a look at the soy beans first, everybody's looking for some lower prices. They're looking for an actual increase of about half a bushel per acre on the yield on the soy beans. So, we're going to be looking at the prices, probably holding steady and actually pulling down a little bit. We've got very strong cash market right now, very light commercial flow. Early in the morning session we were up 4 ½, right now we're flat. We're going to look for it to stay in that range for the majority of the day, maybe actually pull back a little bit."

Chicago March Wheat prices closed yesterday dn 2 ¼, at 422. March corn ended the day Dn 2 ¼, at 339 ¾. Portland prices for soft white wheat of Ordinary Protein for Dec. ended the day dn 3 ½ to unch, ranging from 4-69 ½ to 4-91. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were dn 2 ¼, ranging from 5-01 to 5-26. DNS wheat with 14 % protein, prices for Dec. was dn 1 ¾, ranging from 5-86 ¼ to 6-11 ¼. Feb. Live Cattle were up 75 cents, to finish the day at 107.05. Nov. Feeder cattle were up $1.20, to close the day at 129.20. Nov. class III milk was Dn 2 cents at 16-40.