Marketline Report for Monday, August 28th.
This is Bob Larson with the Market Line Report for Monday, August 28th
Prices on the grain market were a little flat on Friday. From the floor of the CME in Chicago, here's Virginia McGathey ...
McGathey ... "Wheat was really flat today. That was kind of the good news because it was sinking early on, but a low volume day ahead of the weekend really keeps the futures kind of steady and thank goodness for that. It's holding it right here above this $4 mark. So, we're going to take a look at the RSI, the Relative Strength Index, is actually showing a very over-sold condition, so we're really poised for a bounce here today and we expect at some point we get a little bit of a head of steam here at the end of summer. We're down almost $1.80 in the past month and a half so it seems due for a little bit of a correction or at least some consolidation."
Chicago Sept Wheat prices closed yesterday up ½ at 409 ½ Sept corn ended the day dn 3 ¼ at 338 ½
Portland prices for soft white wheat of Ordinary Protein for September ended the day up ½ ranging from 4-89 ½ to 5-25 Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 1 ranging from 4-89 ½ to 5-22 ½ DNS wheat with 14 % protein, prices for September were unch ranging from 7-40 ½ to 7-95 ½
Live Cattle for Aug were unch at 105.95 Aug Feeder cattle were dn $.22 to 141.37 Sept Class III milk was dn .03 cents at 16.64.
