Market Line October 10, 2019
This is Maura Bennett with your Market Line Report Thursday October 10
Wheat prices were mixed today as producers and traders anticipate the coming winter storms.
From the floor of the CME in Chicago here’s Virgina McGathey ((Scott Shellady))
MCGATHEY: “This could be the top of the market for Wheat. It’s really given rise to the value where we are right now but, clearly a lot of the numbers and a lot of the news is very bearish. However, technically speaking, they’re telling me that their objective is 522 and since we got above that five dollar mark this really becomes a benchmark of support level if we can close above this.”
Chicago December Wheat prices unchanged at 500 ½
Dec Corn was down 1 ½ and 394 ¼
Portland prices for soft white wheat of Ordinary Protein for Nov ended the day up 11 ranging from 6.03 to 6.08
Hard Red Winter wheat with 11 ½ % protein, prices for Oct were up 3 today ranging from 5-68 ¼ to 5-73 ¼
DNS wheat with 14 % protein, prices for Oct were down 1 3/4 ranging from 6-31 3/4 to 6-61 3/4
Live Cattle for Oct were up $.30 at 108.62 ½
Oct Feeder cattle were up $2.47 ½ to 144.47 ½
Oct Class III milk was up .10 cents at 18.70
