Five Year Lows All Around

Grains at 5 year lows, I’m Susan Allen with the Market Line Report for August 20th 2015. Todd Horwitz of Bubbatradingp.com shares his perspective yesterday afternoon from the floor of the CME.

 

Horwitz: “We are seeing prices that we haven’t seen since the year 2000. Soybeans are on 5 year lows, corn is on 5 year lows, and wheat is on 5 year lows. Wheat under a lot of pressure due to a strong dollar/ weak ruble plus a big crop in France that was unexpected, a whole bunch of stories, but bottom line… wheat has been the most volatile of all.Somewhere in this $4.90 area you want to be a buyer. Can it go lower? Absolutely! But I think you have seen all the bad news built in, we’ve heard all the crop reports we’ve got every piece of information yet they haven’t collapsed,so look to be a buyer."

 

Chicago September Wheat ended Monday up 2 at 496 1/2. September corn ended the day at 367 ¼ up 1.Portland prices for soft white wheat of ordinary protein for September, ended the day up 2-7 at 5.51 ¼ -5.56 1/4. Hard Red Winter wheat with 11 ½% protein, prices for August were mostly 5.54 1/4. DNS wheat with 14% protein, prices for August were mostly 6.14 ¼ unchanged -up 5.00.

August live cattle closed yesterday down $1.95, at 145 August Feeder cattle down .75 cents at 213.30 September class III milk was down $2.72 at 206.25.