Quiet Friday for Grain Markets

Quiet Friday For Grain Markets

I'm KayDee Gilkey with the Market Line Report for Sept. 3, 2012.

Grain and soybean bids were lower ahead of the holiday weekend on Friday.  Wheat ended lower in reaction to news of Russian officials not placing export restrictions on wheat. From the floor of the CME Group, Chris Robinson shares his observations of Friday’s markets.

Robinson: “As we head into the next month when we come back from the holiday weekend -- we going to have a long holiday weekend. We begin in September, it will be a whole new ball game. We are going to have to watch outside markets probably more closely than anything going on in the grain markets. We are going to continue to get reports as the soybeans are harvested. That could move us around a little bit. But quite honestly we are getting the actual point that everyone who has been on vacation for the last month is going to come back and take a fresh look at these prices.”
Chicago September Wheat ended Friday down 13 and 1/2 cents at 8-70. September corn ended the day down 8 and 3/4 cents at 8-02 and 3/4.
Portland prices for soft white wheat and club wheat were down 5 to 13 cents at mostly 8-73. Hard Red Winter Wheat with 11.5 pct protein prices were down 9 to 10 cents at mostly 9-34. DNS wheat with 14 pct protein prices were down 6 cents at mostly 9-91.

October live cattle ended Friday up 53 cents at 126-03. September Feeder cattle were up $1.30 at 144-60. September class III milk was down 22 cents at 18-89.

I'm KayDee Gilkey with the Market Line Report on the Northwest Ag Information Network.