Marketline Report Wednesday June 28th

Marketline Report Wednesday June 28th

Bob Larson
Bob Larson
This is Bob Larson with the Market Line Report for Wednesday June 28th. Plenty of movement in the Grain market yesterday. From the floor of the CME in Chicago, here's Joe Vaclavik with Tuesday's results ...

Vaclavik ... "Now we've got a big USDA report coming out this Friday. This is the planted acreage and quarterly stocks report, both of which are highly unpredictable. This is a year where we've seen, I think, a lot of acreage shuffling. USDA told us back in March that we were going to have record soybean acreage, but a lot of things have happened since then. First off, soybean prices fell off a lot since we first took those surveys back in during the first couple of weeks of March. That's one factor that could influence the numbers. Second thing, and maybe contradictory to that, is that we had a very wet Spring which sometimes means more soybean acreage which remains kind of a 'bearish' factor. That's why the market's pressing some multi-month lows here."

Chicago July Wheat prices closed yesterday up 3 ¼ at 453 ¼ July corn ended the day up ¼ at 359 ¼

Portland prices for soft white wheat of Ordinary Protein for July ended the day up 3 ¼ ranging from 4-78 ¼ to 5-05 Hard Red Winter wheat with 11 ½ % protein, prices for July were up 4 ¼ ranging from 5-32 ¼ to 5-47 ¼ DNS wheat with 14 % protein, prices for July were up 27 ¾ ranging from 7-91 ½ to 7-96 ½

Live Cattle for June were dn $1.87 ½ at 120.17 Aug Feeder cattle were dn $4.57½ at 145.97 ½ July Class III milk was dn $.03 cents at 15-86.

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