Marketline Report for Thursday, October 12th
Virginia McGathey ... "Wheat was lower again. You know, there's been technical selling that's really pressured the futures right ahead of this report. Also, this has been the third day in a row the market has been down. So, we're starting to look at testing some new lows and, certainly, from where we were just in June, the beginning, we were at like record highs of the last couple of years and now we're sitting here testing some lows as we're moving into the harvest time. There's going to be a lot of news tomorrow after this report comes out so I expect volatility to pick up at that time."
Chicago Dec Wheat prices closed yesterday dn 2 at 433 ¼
December corn was dn 3 ¼ at 345 ¾
Portland prices for soft white wheat of Ordinary Protein for October ended the day dn 2 ranging from 5-08 ¼ to 5-31 Hard Red Winter wheat with 11 ½ % protein, prices for October were dn 3 ranging from 5-28 ¼ to 5-93 ¼ DNS wheat with 14 % protein, prices for October were up 1 ½ ranging from 7-29 to 7-49
Live Cattle for Oct were up $.07 ½ at 113.85 October Feeder cattle are up $.07 ½ to 154.25 October Class III milk was up .02 cents at 16.72