Marketline Report for Thursday, August 15th
VACLAVIK ... "President Trump said yesterday that he will delay some new tariffs on Chinese goods. These were tariffs that were slated to go into effect on September 1st. That news sent equity markets sharply higher yesterday. It may have helped the soybean market off to some extent. Trump finally acknowledging here that U.S. consumers are, in fact, impacted by the tariffs. He's sighting the holiday season and the potential for higher prices as one reason for back-tracking here, I guess you'd call it. So, I think that the U.S.-China trade war, I think it kind of hit peak levels prior to this and I think that you can only get better from here, especially in regard to a market like beans where we have China buying nothing and you can only get better from there."
Chicago Sept Wheat prices closed yesterday up 1 ¾ at 475
Sept Corn was dn 7 at 359 ¾
Portland prices for soft white wheat of Ordinary Protein for Aug ended the day unch ranging from 5-55 to 5-75 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were up 1 ¼ ranging from 5-09 ¾ to 5-14 ¼ DNS wheat with 14 % protein, prices for Aug were up 2 ¼ ranging from 5-80 ½ to 5-85 ½
Live Cattle for Aug were dn $.35 at 100.55 Aug Feeder cattle are up $6.75 to 134.45 Aug Class III milk was up .03 cents at 17.63