Marketline Report for Wednesday, October 4th
Vaclavik ... "We had a quarterly stocks report this past Friday which was actually seen as being a little bit friendly. The market was unable to hold any type of rally and has digested back to any kind of a low volatility environment. Despite the friendly USDA report the market really kind of continues to trade sideways. Harvest is ongoing. We're a little bit behind the average pace. Yield reports, I'd venture to say, have been a little bit better than some traders or farmers had expected. We certainly got some variability. There were areas that had weather problems, dry conditions during the month of August. So, a lot of variability, but on the whole, from what I've heard, yields have been slightly impressive relative to expectations."
Chicago Dec Wheat prices closed yesterday up 3 ¼ at 448 ¼
December corn was dn 2 at 349 ¼
Portland prices for soft white wheat of Ordinary Protein for October ended the day up 3 ¼ ranging from 5-23 to 5-45 Hard Red Winter wheat with 11 ½ % protein, prices for October were up 2 ½ ranging from 5-66 ¾ to 6-01 ¾ DNS wheat with 14 % protein, prices for October were up ¾ ranging from 7-32 ¼ to 7-42 ¼
Live Cattle for Oct were up $1.27 ½ at 109.02 ½ October Feeder cattle are up $2.07 ½ to 152.67 ½ October Class III milk was up .10 cents at 16.43