Low Grain Pressure

Low Grain Pressure

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for, Aug 25th. With a slower grain market yesterday, there hasn't been a lot of pressure in the commodities. The price of the dollar directly reflecting which way grain commodities will go. Here's Todd Horwitz with bubbatrading.com from the floor of the CME Group in Chicago.

Horwitz "Wednesday afternoon grains, and you know , all the traders going home, the pits are empty and its really a non-event. We're seeing a little bit of pressure, but nothing that would seem to be dangerous in here. We're seeing a float between positive and negative. Overall, none of the issues have really changed. We've got an expiration tomorrow, we've got a lot coming off. So we'll see how that affects the play."

Chicago Dec. Wheat prices closed yesterday dn 1 ¼, at 426 ½. Dec. corn ended the day dn 1, at 336 ½. Portland prices for soft white wheat of Ordinary Protein for Nov. were dn 1 ¼ to unch, ranging from 4-96 ¼ to 5-12. Hard Red Winter wheat with 11 ½ % protein, prices for Nov. were up ½, ranging from 5-09 to 5-49. DNS wheat with 14 % protein, prices for Nov. were dn 7, ranging from 5-93 ¾ to 6-28 ¾. Dec. Live Cattle were dn 82 ½ cents to finish the day at 110.20. Oct. Feeder cattle were dn $1.37 ½ to close the day at 139.15. Oct. class III milk was dn 14 cents at 17-29.

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