The Grain Market has seen Pressure

I'm Tom Allen with the Market Line Report for Friday, October 23rd. The grain market has seen some pressure. Oliver Sloup brings you more from the Floor of the CME.Sloup- As far as the soybean market goes, Really kind of the surprise of the day we had a great export sales number out of China, they came in as big buyers again and there should have provided a lot of support but instead we sold off. kind of the same with wheat, came in with expectations but sold off. I think a lot of those two movies are a factor of the US dollar catching a bid we had Mario Draghi from the ECB at the European Central Bank this morning say that qe was still on the table and that put a big bid in the US dollar which can conversely put pressure on the commodities and unfortunately soy beans and we were not able to escape that pressure.

Chicago December Wheat ended down 4, at 491 1/4. December corn ended down 2 and 1/4, at 378.

Portland prices for soft white wheat of ordinary protein for October, were dn 4.00-2.25, ranging from 5.2075-5.5275. Hard Red Winter wheat with 11½ % protein prices for October were dn 5.00, ranging from 5.8550-5.9550. DNS wheat with 14 % protein, prices for October were dn 3.75, ranging from 6.2300-6.5800.

October live cattle closed up $.32 1/2 cents, at 140.30 and 1/2. October Feeder cattle were also up $.95, at 195.20. October class III milk was down $.07 cents at 15-52.