Wheat Diving

Wheat Diving

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for July 21st. Volatile grain market, prices diving yesterday. Here's Todd Horwitz from the floor of the CME in Chicago to share his strategy.

Horwitz "Wednesdays grain trade, your momma said there's going to be days like this.. and wow. This is a pretty ugly day, especially in wheat, I think wheat you've seen probably the blow off bottom. I'm looking to be a buyer of Dec. wheat. Again I've bought some already, I'm a little under water myself, but I think this is an opportunity here to look good and actually start to buy in here."

Chicago Sept. Wheat prices closed yesterday dn 5, at 413 ¾. Sept. corn was down 4 ¼, at 338. Portland prices for soft white wheat of Ordinary Protein for July ended the day dn 5-unch, ranging from 4-93 to 5-32. Hard Red Winter wheat with 11 ½ % protein, prices for July had a mixed market up 6 ¼ and dn 3 ¾, ranging from 4-86 ¾ to 5-01 ¾. DNS wheat with 14 % protein, prices for July were also mixed up 2 and dn 3, ranging from 5-65 to 5-80. Aug Live Cattledn 97 ½ cents, at 109. 02 ½. Aug Feeder cattle were dn $1.27 ½ to close the day at 138.20. July class III milk was dn 7 cents at 15-27.

Previous ReportMixed Cattle Report
Next ReportScattered Grains