Grains continue to drop

I’m Matt Rice with the Market Line Report for September 3rd. Grain Commodities continue to slow down at the close of Wednesday’s market, especially wheat. Here’s Gary Kozloski, from the floor of the CME with his observations.

 

Kozlowski: “Good after noon, Gary Kozlowski with trading advantage here with Chicago CME. As we are winding down the session here today. We start off with the soy beans, we’ll look at the soy beans. They are down about 5 ½-6 cents right now, we’re continuing to see a weak demand on it. So this is what is going on here, prices are just dropping off. We’re still looking at China their currency and demand situation is really hurting these beans right now. But again, that’s something we’ll be able to handle here in the near future. Brazil’s exports aren’t even down right now on this situation, so that’s something we’re looking at.”

 

Chicago September Wheat ended Wednesday down 11 even at 4-72. September corn ended the day down 2 at 353 3/4. Portland prices for soft white wheat of ordinary protein for September were down 6 to 6 1/4, at mostly 5.3500. Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 7 1/2, at mostly 5.63 ¾. DNS wheat with 14 % protein, prices for September were dn 3 at mostly 6-17 ¼.

October live cattle closed Wednesday up 2 ½ cents, at 141.35. October Feeder cattle were up $1.17 1/2, at 196.50. October class III milk was down 30 cents, at 16-45.