Monday Brings Dynamic Day to Grain Markets

I’m KayDee Gilkey with the Market Line Report for August 5, 2014.
Soybeans led the day’s grain markets higher due to less than anticipated precipitation over the weekend. From the floor of the CME Group, Greg Wagner shares his observations of Monday’s cattle markets.
Wagner: “The meat complex here at the CME Group on Monday — you seen you see cattle, hogs and feeder cattle as well trying to claw their way back from losses they experienced last week. In the case of the cattle remember — I’ve said this before — you are in a time frame that just coincides that we have record high prices for cattle coinciding with the time period where a strong seasonal top is made — that’s late July early August.”
Chicago September Wheat ended Monday up 9 and 3/4 cents at 5-44. September corn ended the day up 6 and 1/4 cents at 3-58 and 3/4.
Portland prices for soft white wheat were up 4 and 3/4 to 6 and 3/4 cents at mostly 6-94. White club wheat prices were mixed down a 1/4 of a cent to up 9 and 3/4 cents at mostly 7-71. Hard Red Winter wheat with 11.5 percent protein prices were up 3/4 of a cent to 5 and 3/4 cents at mostly 7-41 and 1/2. DNS wheat with 14 percent protein prices were up 7 and 1/2 to 12 and 1/2 cents at mostly 8-10 and 1/2.
October live cattle were up 22 and half cents on Monday at 156-22 and half. September Feeder cattle were up 77 and half cents at 220-67 and half. September class III milk was up 37 cents at 21-94.