Marketline Report For Wednesday, August 2nd
This is Bob Larson with the Market Line Report for Wednesday, August 2nd. The Grain Market was a little down on Tuesday. From the floor of the CME in Chicago, here's Joe Vaclavik ...
Vaclavik ... "Soybean market was sharply down here on Tuesday. We had a couple of pieces of bearish information this week. On Monday afternoon, the USDA released its weekly crop progress report. They told us that crop actually improved week over week which was not what was expected. The crop now rated 59% good to excellent, up from 57% the previous week. That's also kind of a contra-seasonal improvement, you know, usually we see corn soybean conditions deteriorate as we move closer to harvest and we saw the opposite of that this week in the bean market. Secondly, and maybe more importantly, the weather forecast for the first part of August looks very, very favorable."
Chicago Sept Wheat prices closed yesterday dn 13 ¼ at 461 Sept corn ended the day dn 8 ¼ at 363
Portland prices for soft white wheat of Ordinary Protein for September ended the day dn 13 ¼ ranging from 5-06 ¼ to 5-32 Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 9 ½ ranging from 5-40 ¼ to 5-70 ¼ DNS wheat with 14 % protein, prices for September were dn 13 ¼ ranging from 7-93 to 8-43
Live Cattle for September were up $.80 at 113.05 Aug Feeder cattle were up $3.00 at 149.62 ½ Sept Class III milk was up $.16 cents at 17-47.
