Marketline Report for Tuesday, August 20th
This is Bob Larson with the Market Line Report for Tuesday, Aug 20th. In lock-step with the grain market, wheat is lower in Monday trading. From the floor of the CME in Chicago, here's Virginia McGathey.
McGATHEY ... "Wheat doesn't have as many negative points about it, but with corn and beans so much lower, it's bringing that down as well. So, they're following the grains all the way down. The futures are really working its way lower even though managed funds continue to hold and kind of add to some of the short positions. Certainly, in Minneapolis and in Kansas City wheat. So, they've got to watch the entire wheat complex as well, but there are some positives on the horizon. Just for wheat alone, but with corn and soybeans as low as they are, it may be difficult to show it and keep that market a little bit, you know, moving higher. But, right now, all of the markets are lower. Kind of quiet today, but we expect there's still going to be a lot of volatility ahead."
Chicago Sept Wheat prices closed yesterday dn 5 ¼ at 464 ½
Sept Corn was dn 6 at 365
Portland prices for soft white wheat of Ordinary Protein for Aug ended the day dn 15 ranging from 5-40 to 5-75 Hard Red Winter wheat with 11 ½ % protein, prices for Aug were dn 3 ranging from 5-11 ¼ to 5-21 ¼ DNS wheat with 14 % protein, prices for Aug were dn ¾ ranging from 5-80 ½ to 5-85 ½
Live Cattle for Aug were up $.27 ½ at 100.15 Aug Feeder cattle are up $1.10 to 135.82 ½ Aug Class III milk was unch cents at 17.62
