Choppy Grain Numbers

I’m Matt Rice with the Market Line Report for September 11th. With tomorrows USDA Report coming out, traders are concerned about lower numbers in trade and yield. Oliver Sloup shares his thoughts, from II Trader.

 

Sloup “It has been a relatively choppy session today as a lot of traders anticipate tomorrow’s USDA Report, but on top of tomorrow’s USDA Report we also have also have export sales coming out before that. So a lot of information for traders to digest in the next 24 hours. As far as the USDA reports concerned, a lot of traders anticipating lower production, and lower yields across the board. Corn yield looking at 167.6, seems to be the general consensus around here so that’s going to be the line in the sand for traders.”

 

Chicago September Wheat rallied up to 6 even, at 468. September corn ended the day up 5 1/4 at 362.

Portland prices for soft white wheat of ordinary protein for September, are up 5 3/4, at mostly 5-34. Hard Red Winter wheat with 11 ½ % protein, prices for September are 15 to 5 even, at mostly 5-73 1/2. DNS wheat with 14 % protein, prices for September were up 3 1/2, at mostly 6-19 ¾. October live cattle closed yesterday down 20 cents, at 142.77 1/2. October Feeder cattle were down 55 cents, at 198.02 1/2. October class III milk was down 8 cents, at 16-36.