Monday Brings Wheat Lower

Monday Brings Wheat Lower

Monday brought lower prices across the board. From the floor of the CME Group, Joe Vaclavik shares his observations of Monday’s markets.
Vaclavik: “Grain markets here in Chicago were sharply lower here on Monday following a three-day holiday weekend. We had the corn market make some new lows the September contract as a matter of fact traded below that $4 per bushel mark — for the first time, I believe, since 2010. The wheat market continues to trend lower despite the fact that we have some very poor crops in Southwestern plains in particular. And also some harvest issues as it seems that they have had some wet weather. It seems like the wheat crop is content to follow the corn market and also the soybean market lower.”
Chicago September Wheat ended Monday down 22 and 3/4 cents at 5-56 and 3/4. September corn ended the day down 9 cents at 4-00 and 1/2.
Portland prices for soft white wheat were mixed down 19 and 1/2 to up 8 and 3/4 cents at mostly 6-76 and 1/4. White club wheat prices were mixed down 22 and 3/4 to up 8 and 3/4 cents at mostly 7-26 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices down 17 and 1/2 cents at mostly 7-64 and 3/4. DNS wheat with 14 percent protein prices were mixed down 10 and 3/4 to up 21 and 1/4 cents at mostly 8-26 and 3/4.
August live cattle were down a nickel on Monday at 154-95. August Feeder cattle were up 37 and half cents at 218-even. August class III milk was up 8 cents at 20-66.

 

 

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