2 Year Lows

This is Matt Rice with the Market Line Report for Wed, Aug. 3rd. We're hitting 2 year lows in the corn market, demand seems to playing a key role as crop sizes continue to grow. Joe Vaclavik goes over grain market from the floor of the CME in Chicago with the USDA.

Vaclavik "Grain markets here in Chicago lower on Tuesday. We have the corn market into some new 2 year lows, lowest trades since 2014. We've got the soy bean market into some month lows and also the wheat market just a little bit lower. The talk here is really just revolving around the crop size. Looks as if we're in for a record corn crop and a record soy bean crop here in the US. Weather here into July has really cooperated. We see plenty of rain throughout major soy bean growing areas."

Chicago Sept. Wheat prices closed yesterday Dn 4 ¾, at 401 ¾. Sept. corn ended the day Dn 1 ½, at 324 ½. Portland prices for soft white wheat of Ordinary Protein for Aug. New Crop ended the day Dn 4 ¾ to unch, ranging from 4-66 ¼ to 4-90. Hard Red Winter wheat with 11 ½ % protein, prices for Aug. New Crop were Dn 2 ¾, ranging from 4-76 ½ to 5-06 ½. DNS wheat with 14 % protein, prices for Aug. NC was up 1 ¾, ranging from 5-71 ½ to 5-96 ½. Aug Live Cattle were up 30 cents, to finish the day at 116.12 ½. Aug Feeder cattle up 92 ½ cents to close the day at 145.80. Aug. class III milk was up 12 cents at 17-04.