Lower Wheat Prices Tuesday

Lower Wheat Prices Tuesday

I’m KayDee Gilkey with the Market Line Report for September 17, 2014.
Tuesday had lower wheat prices. From the floor of the CME Group, Joe Vaclavik shares his observations of Tuesday’s markets.
Vaclavik: “Grain markets were mixed here in Chicago on Tuesday. We had the corn market independently higher, a little bit of a lower trade in the soybeans and also a lower trade in the wheat market. The FSA released some acreage data this morning — it was of a little consequence to the trade. We saw some volitatliy in the corn market early — but at the end of the day it looks like the corn market has leveled off for the moment. Early yield reports have been very, very good. A lot of reports of 200 bushel plus corn in parts of Illinois, Indiana, and Missouri. Southern — fringe states- as well.”
Chicago December Wheat ended Tuesday down 4 and 1/2 cents at 4-96 and 1/4. December corn ended the day up 3/4 of a cent at 3-43 and 3/4.
Portland prices for soft white wheat were steady to up a 1/2 of a cent at mostly 6-73 and 1/2. White club wheat prices were mixed down 4 and 1/2 to up a 1/2 of a cent at mostly 9-04 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 3 cents at mostly 7-03 and 1/4. DNS wheat with 14 percent protein prices were down 3 to 13 cents at mostly 8-33 and 1/2.
October live cattle were down 15 cents on Tuesday at 156-20. October Feeder cattle were up 2 and half cents at 225-87 and half. October class III milk was up 32 cents at 24-19.

 

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