Grains Keeping An Eye On Weather

This is Matt Rice with the Market Line Report for Friday, Sept 9th. Soy bean producers keeping an eye on weather conditions as too much precipitation could be dangerous. Ted Seifried goes into more detail from the floor of the CME in Chicago.

Seifried "This is Ted Siefried of Zaner Ag Hedge from the CME floor talking about grains here on Thursday morning and while we started out hot and heavy with some follow through gains that we saw from yesterday. We have softened just a little bit here on Thursday morning. It's been a very nice run off of lows for corn, soy beans, and even wheat but now we're getting to a point where we're running into some very key resistance for corn and soy beans. We could be taking a little bit of a breather, waiting to see what happens next."

Chicago Dec. Wheat prices closed yesterday up 3 ¼, at 405 ½. Dec. corn ended the day up 5 ¼, at 338. Portland prices for soft white wheat of Ordinary Protein for Dec. ended the day unch, ranging from 4-65 to 4-91. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were up 7, ranging from 5-03 to 5-13. DNS wheat with 14 % protein, prices for Dec. was up 4, ranging from 5-87 to 6-02. Dec. Live Cattle were Dn $1.60, to finish the day at 102.65. Nov. Feeder cattle were Dn $2.12 ½, to close the day at 126.12 ½. Nov. class III milk was Dn 33 cents at 16-69.