Marketline Report for Wednesday, September 13th
Horwitz ... "The first thing we want to talk about is the overall results of the USDA reports and of course they were well overstocked and well over-bearish into these markets and I think that's kind of the reaction you're seeing is that the USDA had really got anybody into fear. I think that their up into the 174-175 bushel-per-acre and, of course, that became a little bit ridiculous forcing prices into ridiculous lows. What is the reality of overall picture. We talk about imports versus exports and where we're going to go here and I think that corn itself has found a level of some support and looks to be a buy at almost any dip."
Chicago Sept Wheat prices closed yesterday up 7 ¼ at 418 ¾
Sept corn was dn 5 ½ at 336 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 7 ranging from 5-16 ¾ to 5-61 ¾ DNS wheat with 14 % protein, prices for September were dn ½ ranging from 7-31 ¾ to 7-51 ¾
Live Cattle for Oct were dn $.92 ½ at 106.35 Sept Feeder cattle were dn $.47 ½ to 147.80 Sept Class III milk was up .14 cents at 16.36