Down Day for Grains on Monday

Down Day for Grains on Monday

I’m KayDee Gilkey with the Market Line Report for July 22, 2014. 

 

Another down day in the grain markets on Monday. From the floor of the CME Group, Jack Scoville shares his observations of Monday’s markets.

Scoville: “Grain prices trading generally a little lower. Wheat holding generally a little bit better. Some ideas that wheat is getting very closer to a low and traders in general are less willing to press that market down. The harvest for wheat is moving along towards completion at least for winter wheat. Spring wheat to be in good to very good condition so with the winter wheat harvest starting tapering down it could be a little bit less offering in the market and that may help at lest force the market to trade in a sideways pattern.”

Chicago September Wheat ended Monday down 2 and 1/4 cents at 5-30. September corn ended the day down 7 and 1/4 cents at 3-64.
Portland prices for soft white wheat were down 2 and 1/4 to 15 cents at mostly 6-65. White club wheat prices were down 2 and 1/4 to 15 cents at mostly 7-15. Hard Red Winter wheat with 11.5 percent protein prices were down 3/4 of a cent to 5 and 3/4 cents at mostly 7-29. DNS wheat with 14 percent protein prices were down 7 cents at mostly 8-00 and 1/4.

August live cattle were up $1.32 and half on Monday at 152-95. August Feeder cattle were up $1.37 and half at 213-02 and half. August class III milk was up 7 cents at 21-40.

 

 

  

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