Marketline Report for Wednesday, September 18th
SHELLADY ... "Kind of a tough day over in the grain markets. Let's talk about corn. Normally, September crop conditions, you really wouldn't be paying too much attention to, but we've kind of had to because we've got everything in so late. They improved 1% last night and that's enough for things to tail off. You need to feed the bull every day. There wasn't anything bullish. A slightly better improvement in crop conditions has sent the market kind of tailing off. It's interesting to see that after the 22% bounce that we've had just as of late, after the USDA. We're kind of tailing off, number one, because of that 1% crop improvement, but also I think, in sympathy with crude oil, and when things run out folks start to get out of their positions, maybe take some things off the table."
Chicago Dec Wheat prices closed yesterday dn 4 ½ at 485
Dec Corn was dn 6 at 368 ½
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 dn 6 ¾ ranging from 5-32 ¼ to 5-47 ¼ DNS wheat with 14 % protein, prices for Sept were dn 2 ½ ranging from 5-81 ½ to 5-96 ½
Live Cattle for Oct were up $1.35 at 99.55 Sept Feeder cattle are up $2.62 ½ to 139.42 ½ Sept Class III milk was dn .05 cents at 18.29