Marketline Report for Friday, September 6th
This is Bob Larson with the Market Line Report for Friday, Sep 6th. Overnight Tweets boost corn market volatility in Thursday trading. From the floor of the CME in Chicago, here's Scott Shellady.
SHELLADY ... "I guess we've stopped going down, as of the time being. You know, we've seen the market a tad better because of the overnight news with China, but it's still nowhere near what we need to be to kind of get people back to being close to whole again. So, keep that in mind. That's something that's been somewhat of a black cloud. We've got this deal-delirium that we're suffering from. We keep having these binary events, up-down, up-down. There's no real good trend that's hard to get involved with because of what might be tweeted out or what you might hear from the Chinese government. And, that's very difficult for anybody. It's difficult for us. It's difficult for the young traders, the beginners out there. It's something that you have to know that you have to be disciplined and take a much bigger view of things and stay with your stops and stay with your levels because if you want to get caught up in the day to day minutia, a lot of times, that's just a tax you don't have to pay."
Chicago Sept Wheat prices closed yesterday up 7 ¾ at 463 ¾
Sept Corn was up ½ at 346 ¾
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-70 to 5-75 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 9 ¼ ranging from 5-13 ¾ to 5-33 ¾ DNS wheat with 14 % protein, prices for Sept were up 8 ranging from 5-72 to 5-82
Live Cattle for Oct were dn $1.15 at 97.67 ½ Sept Feeder cattle are dn $1.15 to 133.97 ½ Sept Class III milk was up .11 cents at 17.90
