Marketline Report for Wednesday, May 19th
This is Bob Larson with the Market Line Report for Wednesday, May 19th. Corn planting reaches near record levels, but still off slightly. From the floor of the CME in Chicago, here’s Scott Shellady.
SHELLADY … “First of all, let’s get the planting numbers out of the way. Corn planting are 80% complete. I mean, we were looking for around 84%, but still that’s close to a record pace. I think emergence may be a concern in many areas in the south and eastern Corn Belt but the wetness is now starting to creep in a little bit and I think maybe that could of maybe stemmed the tide a little bit today, no pun intended. I mean, we were up about a percent today, six and a bit, pennies. Just keep in mind that we’re off to a record, close to a record start but I think that right now we also do have some wetness concerns.”
Chicago Dec Wheat prices closed yesterday dn 02 at 697 ¾
July Corn was up 6 ¾ at 659 ¼
Portland prices for soft white wheat of Ordinary Protein for July ended the day unch ranging from 7-75 to 7-90 Hard Red Winter wheat with 11 ½ % protein, prices for Jun were up 10 ranging from 7-67 ¾ to 7-77 DNS wheat with 14 % protein, prices for Jun were dn 11 ranging from 8-19 to 8-24
Live Cattle for Aug were up $1.37 ½ at 119.80 Aug Feeder cattle are dn $.95 to 151.80 Jun Class III milk was dn .45 cents at 18.47
