Marketline Report for Friday, August 24th
This is Bob Larson with the Market Line Report for Friday, Aug 24th. The corn market continues its slide on Thursday. From the floor of the CME in Chicago, here's Terry Roggensack.
ROGGENSACK ... "We're already down 17 ¾ cents on the week so far. That does seem like enough to us. Profarmer Tour this week seems to be agreeing that the USDA yield estimate that we saw in August is probably about correct if the early maturity of the crop though were to drag the yield down 2 percent from the USDA estimate in August, that would be a stocks-to-usage ratio in the U.S at 9.4%. We've only had five years since 1973 where we've been tighter than 9.4%."
Chicago Sept Wheat prices closed yesterday dn 4 at 523 ¼
Sept Corn was dn 5 ¾ at 346 ½
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 6-10 to 6-15 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were dn 2 ¾ ranging from 6-27 ¼ to 6-37 ¼ DNS wheat with 14 % protein, prices for Sept were dn 4 ½ ranging from 6-66 ¾ to 6-81 ¾
Live Cattle for Aug were dn $.27 ½ at 108.20 Aug Feeder cattle are up $.32 ½ to 148.95 Aug Class III milk was up .02 cents at 15.02
