Possibly An Opportunity to Buy

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Market Line
July 15 2015
Possibly An Opportunity to Buy
I’m Susan Allen with today’s  Market  Line  Report for Wednesday. Todd Horwtiz of Bubba Trading group sees Tuesday sell off as a possible buying opportunity, He explains why from the floor of the CME

Todd Horwitz: Tuesdays grain trading saw lower prices across the board and you are hearing all the stories about but the bottom line is look at the move they made especially in corn, we went up like a rocket ship because the commercials were buying like there was no tomorrow.  So you had a little bit of a sell off. Look at the moves we just had…. 

Chicago September Wheat ended Wednesday at 5-71 down 4 3/4
September corn ended the day down 12 ½ at 4-28.
Portland prices for soft white wheat August new crop ordinary protein ranging 6-31 to 6-35
White Club wheat of 10.5 % protein mostly 7-04 ranging 6-96 to 7-11 down 4 3/4
August New crop Hard Red Winter wheat with 11.5 percent protein, was down 6 ranging 6-16 ¼ to 6-41 1/4

August live cattle were up 55 cents  at 147 ¼
August Feeder cattle were up 3 cents at 214.77
August class III milk was up 16 cents at 16-38.