Marketline Report for Thursday, October 26th
Virginia McGathey ... "Corn was lower today. The futures started higher, but technical seller came in and really pressured the market down. The market still remains stuck in its own channel that was established back September 1st, I believe, and we're kind of right in the middle. We still are waiting for yield numbers to come through to give us some information to help the market move along. Wheat was also down. Profit-taking really capped that mini-rally that we had yesterday. Even though there is a positive bias, that is a little bit higher just for the short-term, the market did show some weakness and so it has some traders a little bit worried, but down only about .03 cents so it still has plenty of opportunity to get a lift back up again."
Chicago Dec Wheat prices closed yesterday dn 2 ¼ at 434 ¾
December corn was dn 1 ¾ at 350
Portland prices for soft white wheat of Ordinary Protein for November ended the day dn 2 ½ ranging from 5-30 ½ to 5-43 Hard Red Winter wheat with 11 ½ % protein, prices for November were dn ½ ranging from 5-73 ½ to 5-98 ½ DNS wheat with 14 % protein, prices for November were up 1 ¾ ranging from 7-36 ½ to 7-56 ½
Live Cattle for Oct were dn $.60 at 112.85 October Feeder cattle are dn $.27 ½ to 154.85 October Class III milk was up .09 cents at 16.70