Marketline Report for Friday, September 28th
This is Bob Larson with the Market Line Report for Friday, Sept 28th. Good crop conditions encourage soybean traders. From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "We're also in a situation where cumulative export sales have reached just 33.5% of the USDA forecast for the coming year and that compares with a five-year average of 47.4%. So, the second point would be that if we see a 30-million bushel decline in the export projection and if we see a half a bushel per acre increase in yield, ending stocks for the new crop season look like they'll come in about 919-million bushels. That would be an all-time record high by a longshot."
Chicago Dec Wheat prices closed yesterday dn 4 ½ at 513
Dec Corn was up 1 ¾ at 365
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-90 to 6-18 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were dn 3 ¾ ranging from 6-27 ¼ to 6-42 ¼ DNS wheat with 14 % protein, prices for Sept were up 2 ½ ranging from 6-65 to 6-75
Live Cattle for Oct were dn $.65 at 113.35 Sept Feeder cattle are up $.25 to 157.27 ½ Sept Class III milk was dn .03 cents at 16.11
