Marketline Report for Tuesday, September 17th
SHELLADY ... "Well, let's talk about my favorite, say, row crop, corn. It's one of those two crops we grow on our farm. We grow soybeans and corn, so I kind of feel like I've got a little bit to say about it, or at least have an opinion, and it's been tough as of late as you all well know. So, let's just pretend, let's take it from the bullish point of view. I mean, we all want corn to go up, we want the farmer to do better. They've been taking it on the chin with the tariffs, but let's just look at it from that point of view for a second. And, I guess, the thing that really gives me the most, quote-unquote, hope, and it's bad to trade with hope, but if you are a bull and want to see a rally, the thing that makes you happy is that the managed money, or the funds, are still short corn. So, that might give us a reason, at least, if they come to take back their shorts, or at least their short trades off the table, that could be something that you could see us rally to and go through some higher levels."
Chicago Dec Wheat prices closed yesterday up 5 ¼ at 488 ½
Dec Corn was up 5 ¼ at 374 ¾
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-70 to 5-90 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 9 ¼ ranging from 5-39 to 5-54 DNS wheat with 14 % protein, prices for Sept were up 3 ½ ranging from 5-84 to 5-99
Live Cattle for Oct were dn $.07 ½ at 98.20 Sept Feeder cattle are up $.05 to 136.42 ½ Sept Class III milk was up .03 cents at 18.34