Marketline Report for Thursday, September 13th

Marketline Report for Thursday, September 13th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Thursday, Sept 13th. A bearish USDA report hits the corn market hard on Wednesday. From the floor of the CME in Chicago, here's Scott Shellady.

SHELLADY ... "We saw production jump from 4.526 to 14.827. That's a pretty big increase especially this in the game. You know, as you go longer in the year, the propensity for a bigger surprise gets less and less and less because you'd think we get to know more about the crop going forward. But, today was kind of a shocker so corn ended up finishing down about .14 cents on the day which is a decent move lower especially as we've gone lower, right? The propensity to go lower or have short, sharp moves lower is less the lower you go. So, I would say today was a really, an exaggerated day to the down-side considering where the corn prices are trading already."

Chicago Sept Wheat prices closed yesterday dn 12 at 478 ½

Sept Corn was dn 13 ¾ at 341 ¾

Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-90 to 5-95 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were dn 16 ranging from 6-06 ¾ to 6-16 ¾ DNS wheat with 14 % protein, prices for Sept were dn 10 ¼ ranging from 6-50 to 6-55

Live Cattle for Oct were up $2.17 ½ at 111.60 Sept Feeder cattle are up $2.50 to 154.67 ½ Sept Class III milk was up .05 cents at 16.16

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