Lower Markets Across the Board

Lower Markets Across the Board. I’m Greg Martin with the Market Line Report for Friday, July 19, 2013.

Precipitation or the lack thereof is once again starting to play a big part of the markets. Many areas are not getting the rain necessary. From the floor of the CME Group, Frank Lesh with Future Path Trading says that didn’t hurt the export market.

LESH: One thing we did find out this morning, export sales were released and they were strong for wheat, strong for soybeans but real strong for corn. We had China booking their largest order that we have seen in over 2 years, 1.2 million is there for China so I guess these lower prices here are attracting some of that business.

Now checking some prices from yesterday:

Chicago September Wheat ended Wednesday down 4 and 1/2 cents at 6-60 1/2.

September corn ended the day up 2 and 1/2 cents at 5-41.??Portland prices for soft white wheat and club wheat were down 4 and 1/2 cents mostly 7.22 1/4.

Hard Red Winter Wheat with 11.5 pct protein prices were down 5 at mostly 8-07 and 1/4.

DNS wheat with 14 pct protein prices were down 5 at mostly 8-54 and 1/4. ??August live cattle were up 80 cents Wednesday at 121-10.

August Feeder cattle were up $1.10 at 152.07 and a half.

August class III milk was down 10 cents at 17-89.

That’s todays Market Line On the Ag Information Network.