Insight on the Grain Market
I'm Tom Allen with the Market Line Report for November 3rd. Jack Scoville gives you his insight on the grain market.
Scoville" Grain markets traded lower thought the course of the day. Wheat was the downside leader with double digit losses as we factored in some better weather for the great planes. Also worldwide the reports forecasts of better rains for china, could hurt demand from there. On the other hand Western Australia and parts of Russia remain too dry loosing production as kernels don't fill well.
Chicago December wheat ended down 14, at 507 1/2. December corn ended down 5 3/4 at 376 1/2.
Portland prices for soft white wheat of ordinary protein for December, were dn 12.00-2.00, at mostly 5.5800-5.7000 . Hard Red Winter wheat with 11 ½ % protein, prices for December were dn 11.00-21.00, at 5.8775-5.9775 . DNS wheat with 14 % protein, prices for December were dn 13.75 at 6.2675-6.6175.
December live cattle were down $.12 1/2, at 141.60. November Feeder cattle were up $.75, at 191.65. November class III milk was down 5 cents, at 15-27.
