Marketline Report for Monday, October 2nd
Roggensack ... "So, we went from 345-million bushels for this 17-18 beginning stock number down to 301-million bushels today with that September 1st stocks report. What does that really mean? Well, some of it was last year's production down a little bit, but most of it was because demand is better. The crush number last month came in 5-million bushels above the average trade estimate. Well, for the whole year that would be 60-million bushels. So, the USDA does have some ammunition to raise demand in the next supply-demand report."
Chicago Dec Wheat prices closed yesterday dn 6 ¾ at 449
December corn was up 2 ¾ at 356 ¼
Portland prices for soft white wheat of Ordinary Protein for October ended the day dn 6 ¾ ranging from 5-23 ¼ to 5-45 Hard Red Winter wheat with 11 ½ % protein, prices for September were dn 10 ¼ ranging from 5-62 ¾ to 5-97 ¾ DNS wheat with 14 % protein, prices for September were dn 21 ¼ ranging from 7-33 ¾ to 7-53 ¾
Live Cattle for Oct were up $.12 ½ at 109.05 October Feeder cattle are dn $.72 ½ to 151.92 ½ October Class III milk was dn .02 cents at 16.27