Marketline Report for Wednesday, October 4th

Marketline Report for Wednesday, October 4th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Wednesday, October 4th Soybeans keep traders on their toes Tuesday. With details from the floor of the CME in Chicago, here's Joe Vaclavik ...

Vaclavik ... "We had a quarterly stocks report this past Friday which was actually seen as being a little bit friendly. The market was unable to hold any type of rally and has digested back to any kind of a low volatility environment. Despite the friendly USDA report the market really kind of continues to trade sideways. Harvest is ongoing. We're a little bit behind the average pace. Yield reports, I'd venture to say, have been a little bit better than some traders or farmers had expected. We certainly got some variability. There were areas that had weather problems, dry conditions during the month of August. So, a lot of variability, but on the whole, from what I've heard, yields have been slightly impressive relative to expectations."

Chicago Dec Wheat prices closed yesterday up 3 ¼ at 448 ¼

December corn was dn 2 at 349 ¼

Portland prices for soft white wheat of Ordinary Protein for October ended the day up 3 ¼ ranging from 5-23 to 5-45 Hard Red Winter wheat with 11 ½ % protein, prices for October were up 2 ½ ranging from 5-66 ¾ to 6-01 ¾ DNS wheat with 14 % protein, prices for October were up ¾ ranging from 7-32 ¼ to 7-42 ¼

Live Cattle for Oct were up $1.27 ½ at 109.02 ½ October Feeder cattle are up $2.07 ½ to 152.67 ½ October Class III milk was up .10 cents at 16.43

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