Mother Nature strikes again

I’m Matt Rice with the Market Line Report for July 27th.Grain and cattle prices were in the red last week. Here’s Frank Lesh with the livestock report from last week.

Lesh: “Generally a lower day throughout the grains and the oilseeds here today. Mostly because the great weather we are seeing in the Midwest. Weather over the weekend future some rains showers and storms in norther Iowa, Minnesota and Wisconsin, which were welcomed by producers in those areas. Those areas had seen somewhat dryer weather and definitely needed the rain. Southern areas saw a dryer weekend and that was also very welcome in these areas. A lot of good weather going around. The ideas were whether we could see USDA hold crop conditions ratings steady.”

Chicago September Wheat ended the week down 9 & ¾ at 512 & ¼. September corn ended at 392 even, down 9 & 3/4. Portland prices for soft white wheat of 10 1/2 % protein for August New Crop, ended down 9 & 3/4 to 4 7 1/2, ranging from 6-41 & ¾ to 6-57 even. Hard Red Winter wheat with 11 ½ % protein, prices for August New Crop were down 9 & 3/4, ranging from 5-62& 1/4 to 5-87 & 1/4.

DNS wheat with 14 % protein, prices for August New Crop were down 7 & 3/4, ranging between 6-35 to 6-60 even. August live cattle closed last week down 37 &1/2 cents, at 142. 97 &1/2. August Feeder cattle were down 2 &1/2 cents, at 209.75. August class III milk was down 36 cents, at 16-32.