Marketline Report for Monday, August 21st
This is Bob Larson with the Market Line Report for Monday, August 21st. The grain market stabilizes waiting for important numbers in the week ahead. From the Allendale trading desk, here's Steve Georgy ...
Georgy ... "So, we've got the markets actually very quiet overnight. Not a lot of direction. Corn right about unchanged, but we'll see next week. We've got pro-farmers crop tour that starts. We're going to see just the media frenzy on Twitter, anything social media, next week, will be what's, well, what's watched closely. What kind of yields do we have out there? How close is USDA with the last numbers they had? Wheat continuing to make some new lows. Overnight, though, wheat was up a couple cents, maybe some short covering, but huge supplies of wheat globally that's keeping wheat under pressure and pushing into some new lows that we've seen her this week. So, we'll see if that does continue."
Chicago Sept Wheat prices closed yesterday up 2 at 417 ½ Sept corn ended the day up 1 ½ at 351 ¼
Portland prices for soft white wheat of Ordinary Protein for September ended the day dn 2 ranging from 4-96 to 5-25 Hard Red Winter wheat with 11 ½ % protein, prices for September were up ¼ ranging from 4-99 ½ to 5-19 ½ DNS wheat with 14 % protein, prices for September were dn 1 ½ ranging from 7-58 ¾ to 7-78 ¾
Live Cattle for Aug were dn $.75 at 106.62 ½ Aug Feeder cattle were up $.02 ½ at 140.37 ½ Sept Class III milk was dn $.03 cents at 17.12.
