Marketline Report for Tuesday, July 20th
This is Bob Larson with the Market Line Report for Tuesday, July 20th. Wheat continues its upward trend in Monday trading. From the floor of the CME in Chicago, here’s Virginia McGathey.
McGATHEY … “Wheat was leading the way a little bit higher. The North American stocks are tightening, and that’s because of the Pacific Northwest and into Canada. The canola markets were limit up. They’re going to be reducing that crop size for wheat and canola. Those kinds of things are really affecting the market and I think that crop reduction, due to the extended 100-plus degree temperatures could really affect the rest of the crops in the U.S. We’re expecting that heat dome to move almost into the Midwest area. Those kind of temperatures really can be devastating to some of the crops that we have. So, we’re going to watch that closely.
Chicago Sept Wheat prices closed yesterday up 5 ¼ at 697 ½
Sept Corn was unch at 556
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 7-70 to 8-00 Hard Red Winter wheat with 11 ½ % protein, prices for July were up ¾ ranging from 7-47 ¼ to 7-57 ¼ DNS wheat with 14 % protein, prices for July were up 6 ½ ranging from 9-91 ¾ to 10-14 ¾
Live Cattle for Aug were up $.07 ½ at 120.25 Aug Feeder cattle are up $1.75 ½ to 157.37 ½ July Class III milk was dn .01 cents at 16.59
