Grains Shift Lower

This is Matt Rice with today’s Market Line Report for Wednesday. Grains swing back as traders continue to question the impact of Iowa’s detrimental storm last week. Let’s go to Joe Vaclavik’s podcast, “Grain Markets and Other Stuff” to hear more.

Vaclavik “Traders continue to debate the impact of storm damage in Iowa. Now we are certain of course, that widespread damage was seen across a good chunk of Iowa and a good chunk of the Corn Belt. Being estimated now that 14 Million acres of farmland in Iowa was affected in some way shape or form. “

Chicago Wheat prices for Sept. closed yesterday dn 8 ¾, to finish at 517 ½. Dec. Corn dn 3, to finish the day at 341 ¾. Kansas City Hard Red Winter Wheat prices for Dec. were dn 7, to close at 441 ½.

Portland prices for soft white wheat for Sep. ended the day Unch to dn 8, ranging from 5-37 to 5-45. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Oct. were dn 7, ranging from 5-86 ½ to 6-01 ½. DNS wheat with 14 % protein, prices for Oct. were up 01, ranging from 6-21 to 6-46.

Live Cattle for Oct. were steady, closing at 109.87 ½. Oct. Feeder cattle up $1.17 ½, to finish the day at 146.37 ½. Sept. Class III milk was dn $.40, at 16.00.