Marketline Report for Monday, September 2nd
McGATHEY ... "Wheat fell today. We've got stockpiles of grain everywhere and it's having a hard time to really find anything to give the market a boost. Today, wheat technical really were pressing the market lower and they're keeping that down-trend intact. I'm not sure how much lower it can go, but with wheat lower today, soybeans higher, corn a little bit steady, just tells you that the market is kind of looking for something to give it more direction, but all eyes are definitely going to be on September. And, the interesting thing is, nobody's even talking about the high U.S. Dollar Index. That's definitely going to play a role down the road for our ability to really export outside of the United States. So, that's something to watch as we go forward after this holiday."
Chicago Sept Wheat prices closed yesterday dn 18 ½ at 450
Sept Corn was dn 1 ¾ at 357
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 dn 9 ranging from 5-03 ¼ to 5-08 ¼ DNS wheat with 14 % protein, prices for Aug were dn 3 ranging from 5-51 ½ to 5-56 ½
Live Cattle for Aug were dn $.65 at 105.00 Sept Feeder cattle are dn $1.00 to 132.12 ½ Aug Class III milk was up .01 cents at 17.61