Grains Going Against The Grain

Grains Going Against The Grain

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Wednesday, Sept 21st. Corn and Soybeans rising, working against traditional trends for this time of year. Producers continue to keep an eye on potential ugly weather as harvest continues. Here's Joe Vaclavik with Standard Grains from the floor of the CME in Chicago.

Vaclavik "Grain markets here in Chicago higher across the board here on Tuesday. We've really got some contra seasonal strength here in the corn market and in the soybean market. These row crop markets, historically will be lower in the months of September, especially in the last 2 or 3 weeks of September and we have not seen that here at all this year. As a matter of fact the Soybeans have rallied a good 40 or 50 cents in the last few trading sessions. The corn market has rallied a good 25 cents from its late August lows, so the row crop is acting really well here."

Chicago March Wheat prices closed yesterday up 2, at 426 ½. March corn ended the day up 3 ¼, at 350. Portland prices for soft white wheat of Ordinary Protein for Dec. ended the day up 2-unch, ranging from 4-76 to 5 even. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were up 2, ranging from 5-03 ½ to 5-28 ½. DNS wheat with 14 % protein, prices for Dec. was dn 1 ¼, ranging from 5-86 ¼ to 6-11 ¼. Feb. Live Cattle were dn 32 ½ cents, to finish the day at 107.40. Nov. Feeder cattle were dn 95 cents, to close the day at 128.77 ½. Nov. class III milk was up 45 cents at 16-46.

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