Marketline Report for Friday, August 25th
This is Bob Larson with the Market Line Report for Friday, August 25th
Prices on the grain market rebound a bit. From the floor of the CME in Chicago, here's Joe Vaclavik ...
Vaclavik ... "We've actually seen a nice little retracement rally during the last few sessions. I would probably argue that the market has actually held together fairly well when you look across the grain complex. The corn market has traded into some fresh contract lows. Both of the Winter Wheat markets, Chicago and Kansas City, have been very, very weak yet the soybean market has been able to avoid a trade down to even its June lows of this year and has bounced just a little bit here this week. We have the Pro Farmer Crop Tour continuing here this week. Most of the pod counts for soybeans were lower in the majority of areas versus last year. I don't know how that's going to translate into final yield, but maybe something to be optimistic about in regard to the market."
Chicago Sept Wheat prices closed yesterday up 5 ¾ at 408 ¾ Sept corn ended the day unch at 342 ¼
Portland prices for soft white wheat of Ordinary Protein for September ended the day up 5 ¾ ranging from 4-89 to 5-25 Hard Red Winter wheat with 11 ½ % protein, prices for September were up 7 ¾ ranging from 4-90 ½ to 5-10 ½ DNS wheat with 14 % protein, prices for September were up 11 ¼ ranging from 7-40 ½ to 7-60 ½
Live Cattle for Aug were up $.30 at 106.27 ½ Aug Feeder cattle were dn $.02 ½ to 141.40 Sept Class III milk was unch cents at 16.72.
