09/18/08 Market Sees Recovery

Market Sees Some Recovery. I'm Greg Martin. This is the Market Line Market Line September , 2008 After the fed bail out of AIG the market seemed a bit more optimistic yesterday. Lynn Smith of the Zeno Group in Chicago says that crude oil and gold's good day and the weakness in the dollar may have contributed to the market. SMITH: The general stabilization in the financial markets was certainly and influence on the recovery in the grains today and also ideas that wheat's recent price drop might stimulate world demand also was in the back of the traders minds. The USDA is expected to release their corn export numbers later today and analysts are expecting a range of 300-thousand to 500-thousand metric tons of corn will be sold. On Wednesday, Chicago December wheat was 725 3/4 up 35 3/4 December corn 554 up 21 3/4 Portland soft white wheat mostly 6.60 dn 6 3/4 Club wheat mostly 6.70 down 25 HRW 11.5 % protein mostly $8.12 up 27 DNS 14% protein mostly 9.12 up 34 Oct live cattle 102.60 down 1.50 Oct feeders 106.30 down 1.35 Oct Class III milk 17.18 up 24. I'm Greg Martin and that's Market Line on the Northwest Ag Information Network.