Soy Beans Leading The Way

This is Matt Rice with the Market Line Report for, Aug 31st. Soy beans leading the grain market, experts looking for greener pastures in the horizon. Here's Todd Horwitz from Bubbatrading.com from the floor of the CME in Chicago.

Horwitz "Tuesday's grains we see lower markets, kind of flattish. I think we're probably in some pretty key levels here that we need to hold. Soy beans a little bit stronger than the rest, not necessarily today, but in general. Wheat and corn are on 5, 6 and 7 year lows now. It's over all a pretty ugly picture, I think that certainly I'm not going to initiate new selling here."

Chicago Dec. Wheat prices closed yesterday dn 4 ¾, at 392. Dec. corn ended the day dn 5, at 315 ¾. Portland prices for soft white wheat of Ordinary Protein for Oct. had a mixed market, dn 4 ¾ and up 7, ranging from 4-62 ¼ to 4-83. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were up 4 ½, ranging from 4-81 ¾ to 5-16 ¾. DNS wheat with 14 % protein, prices for Dec. were up 11 ½ to 6 ½, ranging from 5-80 ¾ to 6-10 ¾. Dec. Live Cattle were $2.25 for the day, at 109.32 ½. Oct. Feeder cattle rebounded big, up $4.15, at 139.62 ½. Oct. class III milk was up 10 cents at 16-62.