Weather potential causing market shifts

Weather potential causing market shifts. I’m Greg Martin. This is Market Line

Market Line September 16, 2009

On Wednesday DTN said new weather models have backed off the threat of frost and freezing weather for the Midwest but of course we are talking about the weather here. Still the news was well received.

Before that announcement Terry Lind with the Linn Group says there was some fear that frost could damage the Midwest crops.

LIND: Grain markets at the Chicago Board of Trade reacted to a shift in the weather outlook that shows a frost for later next week reaching down into the Midwest and potentially damaging the vulnerable late planted corn and soybean crops.

On Monday Chicago December wheat off 3 ¼ at 467 ¼

December corn closed  down 10 ¼ at 336 1/4

Portland soft white wheat up 1 to 5 at mostly 4.55

Club wheat up 4 to 5 at mostly 7.55

HRW 11.5 % protein 15 to 19 higher at mostly 5.16

DNS 14% protein mostly 6.20 up 25 to 38

October live cattle closed off a quarter at 86.97

October feeders down 27 at 98.27

October Class III milk down 8 cents at 12.11

I’m Greg Martin and that’s Market Line on the Northwest Ag Information Network.