Grain Markets Trending Lower

I'm Matt Rice with the Market Line Report for September 18th. The grain markets are starting to look like drown rat, but the December corn could help keep the grain numbers afloat. Oliver Sloup shares his thoughts with II Trader, from the floor of the CME.

Sloup "Grains taking a bit of a beating across the board here in todays session, this coming after weaker than expected export sales. We'll start off looking at the December Corn contract, December corn coming right up against some pretty good support. 379 ½ was previous resistance for the past several months. "

Chicago December Wheat ended yesterday 6 ½, at 482 1/2. December corn ended the day down 6 ¼, at 380 1/2.

Portland prices for soft white wheat of ordinary protein for September, were unchanged to down 6 3/4, at mostly 5-35 1/2. Hard Red Winter wheat with 11 ½ % protein, prices for September were a mixed market up 7 ¾ and down 7 1/4, at mostly 5-79 1/4. DNS wheat with 14 % protein, prices for September were up 3 ¾ to 13 ¾, at mostly 6-30 1/4. October live cattle closed yesterday down 52 ½ cents, at 137.07 1/2. October Feeder cattle were down 15 cents, at 188.30. October class III milk was up 24 cents, at 15-82.