Marketline Report for Wednesday, July 11th
ROGGENSACK ... "Today, we're going to talk a little bit more about the soybean market. We've seen a good technical bounce. We're on a technical bounce, but probably not going to see a whole lot more unless we see the Chinese move to trade negotiations. First negative potential point is that the USDA is going to assume tariffs for their demand numbers for the supply-demand report coming up on Thursday. That means we could put in a pretty bearish number, the USDA could assume a pretty bearish demand number on that export market especially going to China."
Chicago July Wheat prices closed yesterday dn 18 ¼ at 489 ½
July Corn was dn 6 at 339 ¾
Portland prices for soft white wheat of Ordinary Protein for July ended the day up 10 ranging from 5-90 to 6-08 Hard Red Winter wheat with 11 ½ % protein, prices for July were dn 6 ¼ ranging from 6-14 ¾ to 6-24 ¾ DNS wheat with 14 % protein, prices for July were dn 25 ½ ranging from 6-37 ½ to 6-62 ½
Live Cattle for Aug were dn $.67 ½ at 105.47 ½ Aug Feeder cattle are up $.40 to 151.62 ½ July Class III milk was up .02 cents at 14.18