China and Mexico Boosting Sales

China and Mexico Boosting Sales

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Sept 29th. China and Mexico putting in some large orders in the grains over the last couple days, which has really given the commodities a nice boost. Here's Jack Scoville with more from the floor of the CME in Chicago.

Scoville "Hi, grain markets generally trading a little lower here today but we have seen some buying start to come into the market. We've seen the soybeans actually start to turn higher on the day. China bought some more soybeans, about a 133,000 tons and just over 211,000 tons were sold to unknown destinations. The big demand news was over in the corn market where over a million and a half tons were sold in Mexico. Just over a million tons of that for delivery in the current marketing and just about a half a million for the next marketing year."

Chicago March Wheat prices closed yesterday unch, at 425 ¼. March corn ended the day dn 2 ¾, at 339 ¼. Portland prices for soft white wheat of Ordinary Protein for Jan. ended the day unch, ranging from 5-03 to 5-06. Hard Red Winter wheat with 11 ½ % protein, prices for Jan. were up 2, ranging from 5-23 to 5-28. DNS wheat with 14 % protein, prices for Jan. were up 5, ranging from 6-11 to 6-16. Feb. Live Cattle were up 45 cents, to finish the day at 103.87 ½. Nov. Feeder cattle were up $1.27 ½, to close the day at 124.62 ½. Nov. class III milk was up 24 cents at 15-67.

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