Marketline Report for Tuesday, August 22nd
This is Bob Larson with the Market Line Report for Tuesday, August 22nd. The grain market is stable, but uncertain. From the floor of the CME in Chicago, here's Virginia McGathey ...
McGathey ... "Today, in soybeans, the market was really steady. Commercial buyers came in and really offered some support for the futures. There's been rains across the Midwest. That has eased some of the worries for any kind of crop damage and you would think that would be a little bit of a sell-off, but we just below the real support number of $940 and so, just being below that, the market has found a little bit of equilibrium. All bets are off in the wheat, but the wheat fell again and it certainly seems that all factors are just showing a bearish sentiment all the way across the complex. It's been two months since we actually saw the high which was right around July 1st and we have not seen that number again."
Chicago Sept Wheat prices closed yesterday dn 6 ½ at 409 ¼ Sept corn ended the day dn 3 at 348
Portland prices for soft white wheat of Ordinary Protein for September ended the day dn 6 ½ ranging from 4-89 ½ to 5-25 Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 6 ¾ ranging from 4-92 ¾ to 5-12 ¾ DNS wheat with 14 % protein, prices for September were dn 13 ¾ ranging from 7-45 to 7-65
Live Cattle for Aug were dn $.37 ½ at 105.87 ½ Aug Feeder cattle were dn $.70 at 139.57 ½ Sept Class III milk was dn $.09 cents at 17.10.
