Bearish Factors Hit Soybean Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Bearish factors line up in the Soybean market, while Corn and Wheat find strength in the market. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Sept. closed the day Up 12 ¼, to finish at 8-00 ½. Dec. Corn was Up 26 ¼, to finish the day at 6-55 ¼. Kansas City Hard Red Winter Wheat prices for Sept. were Up 13, to settle at 8-79.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 8-50 to 9-10. Soft white wheat with 10 ½ % Protein prices for Oct. were Up 13-Unch, ranging 8-50 to 8-90. Hard Red Winter Wheat with 11 ½ percent Protein prices for Oct. were Up 13, ranging from 9-89 to 9-94. DNS wheat with 14 % protein, prices for Sept. were Up 11 ½, ranging from 9-82 to 10-02.

Live Cattle for Oct. were Up $.10, closing at 144.60. Oct. Feeder Cattle were Dn $2.02 ½ to finish the day at 184.45. Oct. Class III milk was Up $.56 to settle at 20.65.