Wheat Leading The Way

Wheat Leading The Way

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for July 25th. Wheat leading the grain market today, as producers keep a close eye on the rain patterns throughout the Midwest. Here's Jack Scoville from the floor of the CME in Chicago with the USDA.

Scoville "Hi, grain markets are trading mostly a little bit lower here today. Soy beans have been the weakest market all day long, currently trading well into double digit losses and they've been as much as 20 lower or more over the course of the day. Just factoring in some better than expected rains in many parts of the Midwest over the weekend that didn't extend very far east. Talking some producers in Ohio that did get some showers hoping for more, but they have been very very dry in that section."

Chicago Sept. Wheat prices closed yesterday up 3 ¾, at 427 ¼. Sept. corn ended the day dn ¼, at 335. Portland prices for soft white wheat of Ordinary Protein for July ended the day up 3 ¾ to unch, ranging from 5-09 to 5-18. Hard Red Winter wheat with 11 ½ % protein, prices for July had a mixed market up 4 ¼, ranging from 5-08 ¼ to 5-18 ¼. DNS wheat with 14 % protein, prices for July were up 1 ¾, ranging from 5-77 to 5-92. Aug Live Cattle were rebounding today, up $3, at 112.95. Aug Feeder cattle kicking off the week with a bang, up $4.50 to close the day at 141.70. July class III milk was up 3 cents at 15-30.

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