Grain Prices Continue to be a Roller Coaster Ride

I'm Tommy Allen with the Market Line Report for August 12th. Grain prices continue to be a roller coaster ride, Todd Horwitz covers the grain market from the floor of the CME.

Horwitz: " Tuesdays grain trade. The market give us and the market take us away. Today was a day they took it away. Pretty good selling pressure across the board but didn't quite match the rally we had the day before. We saw corn go over $4.00 and wheat had a big rally and beans over 10. If you take a look at the news, we had a little bit of shock selling based on China and again was it really based on China? And the answer is no."

Chicago September Wheat ended Tuesday down 18 1/4 at 507 even. September corn ended the day down 13 1/2 at 377 1/2. Portland prices for soft white wheat of ordinary protein for August, ended the day down 18 1/4, at mostly 5.55 1/4. Hard Red Winter wheat with 11 ½ % protein, prices for August New Crop were down 21 ½ to 16 ½, at mostly 5.64 even. DNS wheat with 14 % protein, prices for August were down 15 to 10 even, at mostly 6-14 1/4.

August live cattle closed last week down 2 1/2 cents, at 150.22 1/2. August Feeder cattle were up 10 cents, at 214.35. August class III milk was down 2 cents, at 16-42.