USDA Report Could be a Another Market Mover
Markets were stronger on Thursday ahead of today’s USDA Report. Here’s Scott Shellady with more.
Shellady… “Corn looks interesting. We've got a big report tomorrow. I'll keep that in mind. It could be a market mover, right? It's something that we're going to have to watch. And especially after what we saw happen with the acreage number, you know, this is why that positioning I talk about is going to be pretty important. So we've bounced more than 13 cents coming to market this morning. Overnight, e were up 13 cents from Dec's low contract. We've tacked on some more pennies to that today. So that's a good move, right? So again, I can't say this enough, but if you're a producer take advantage of these things, because it'sthe trading God has given you a chance. So get some of your risks down on paper. Use the exchange for what it's for, and hedge some of these better prices.”
In closing markets:
September Corn closed up $0.02 ½ to $3.48 ½.
Chicago September Wheat futures yesterday closed up another $0.08 ½ to $5.25.
Portland bids up as much as $0.10. Soft white wheat of ordinary protein ranging from $5.78 to $5.90.
Club Wheat of Ordinary Protein ranging from $5.90 to $7.53.
Live Cattle futures were up $0.10 on the August board to $99.25. Feeder Cattle for August up $0.47 ½ to $134.52 ½.
Class III milk yesterday up $0.75 to $22.28.