Marketline Report for Wednesday, Sept. 6th
This is Bob Larson with the Market Line Report for Wednesday, September 6th Markets resume trading with a bang following the Labor Day Weekend. From the floor of the CME in Chicago, here's Joe Vaclavik with Friday's report ...
Vaclavik ... "Soybean market was sharply higher here on Tuesday following a long, holiday weekend. The November contract traded into some pre-USDA report levels. Remember, we had a very bearish report from USDA on August 10th. We saw a pretty sharp sell-off following that, but during the last couple of trading days we were able to erase those losses and again trade at those pre-report levels. So, the market acting very, very well despite some larger U.S. production prospects. Now, I think that part of the game here is just that, U.S. production and exactly what we're going to end up with. We've got another report from USDA next Tuesday, that's the September crop production report. We could certainly see an adjustment to the yield numbers there."
Chicago Sept Wheat prices closed yesterday up 10 at 428
Sept corn was up 4 ¼ at 343 ½
Portland prices for soft white wheat of Ordinary Protein for September ended the day unch ranging from 4-90 to 5-20 Hard Red Winter wheat with 11 ½ % protein, prices for September were up 6 ¼ ranging from 5-20 to 5-65 DNS wheat with 14 % protein, prices for September were dn 2 ¾ ranging from 7-19 to 7-39
Live Cattle for Aug were dn .72 ½ at 104.35 Aug Feeder cattle were dn $.67 ½ to 141.75 Sept Class III milk was up .14 cents at 16.29
