Marketline Report for Thursday, August 31st
This is Bob Larson with the Market Line Report for Thursday, August 31st Soybeans taking a hit on the grain market. From the floor of the CME in Chicago, here's Terry Roggensack ...
Roggensack ... "Several factors seem to point to some weakness over the near-term unless there is cold weather coming into the forecast for September. Keep in mind, that we've got 23 percent of the soybean crop growing in the Dakotas and Minnesota so we'll have to watch the weather closely. But, without the weather, the September USDA report coming up on the 12th should carry a bearish tilt. We look at late July crop conditions, they were 57 percent good-to-excellent. Now we're looking at a 61 percent good-to-excellent currently so the yield adjustment is probably going to be higher."
Chicago Sept Wheat prices closed yesterday up ¾ at 404 ½
Sept corn was dn 4 at 329 ¼
Portland prices for soft white wheat of Ordinary Protein for September ended the day unch ranging from 4-90 to 5-25 Hard Red Winter wheat with 11 ½ % protein, prices for September were up 3 ranging from 4-75 ¼ to 5-39 ¼ DNS wheat with 14 % protein, prices for September were dn 4 ¼ ranging from 7-23 ¼ to 7-66 ¼
Live Cattle for Aug were up .30 at 105.50 Aug Feeder cattle were up $.30 to 143.02 ½ Sept Class III milk was up .10 cents at 16.55.
