Slight Losses Continue in the Grains, Feeders Limit Down
Thursday was a down day for both grain and cattle markets. From the floor of the CME Group, Larry Shover shares his observations of Thursday’s markets.
Shover: “Wheat followed corn and soybeans down about 2 on the day. Perception of upward revisions coming out and that continues to be something that is hanging on to the market. U.S. temperatures right now seem to be good if not great for wheat right now. Thursday’s livestock session was very, very volatile indeed. Cattle in a very broad and volatile trading range down on the day trading near lows.”
Chicago September Wheat ended Thursday down 2 and 3/4 at 5-48 and 1/2. September corn ended the day down a nickel at 3-86 and 1/4.
Portland prices for soft white wheat were mixed down 2 and 3/4 to up 3 3/4 cents at mostly 6-78 and 1/2. White club wheat prices were down 2 and 3/4 cents at mostly 7-28 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 6 cents at mostly 7-42 and 1/4. DNS wheat with 14 percent protein prices were down 6 and 1/4 to 56 and 1/4 cents at mostly 8.14.
August live cattle were down $2.65 on Thursday at 148-15. August Feeder cattle were limit down at 210-60. August class III milk was up 25 cents at 20-60.