Extreme Selling In Wheat

Extreme Selling In Wheat

Kelly Allen
Kelly Allen
Market Line Date: July 21 2015

Intro: Extreme Selling, no it's not a new reality TV show it's your wheat market! I'm Susan Allen, this is Market Line for Tuesday Here's Jack Scoville from Prices Future group's analyzed yesterday's market from the floor of the CME

Jack Scoville:

"Grain markets trading lower with the pressure really seen in corn and wheat. Overall the selling has been fairly extreme especially in the wheat markets so we could have a little bit of a turn around Tuesday price action but overall I expect that the market has put in some seasonal tops especially over in the corn and the soybeans aand could continue to drift lower over the next several weeks."

Chicago September Wheat ended Wednesday down 21 ¼ at 535

September corn closed the day at down 15 ¼ at 405- 3/4

Portland prices for soft white wheat August new crop 10 ½ percent ranging 6.57 ¾-6.77 ¾ down 21 ¼-22 1/4

White Club wheat of 10.5 % protein mostly 6.65 3/4, down 21 ¼ -29.

August New crop Hard Red Winter wheat with 11.5 percent protein ranging 5.80 ½ -5.95 1/20 dn 21.00-31.00

DNS wheat with 14 percent protein prices for August new crop ranging 6.49-6.74 dn 15.3/4

August live cattle were up 10 cents at 146.725

August Feeder cattle were up $1.12 1/2 at 215.60 .

August class III milk was down 10 cents at 15.85 .

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