Monday's Grain Markets Ends Mostly Lower

Monday's Grain Markets Ends Mostly Lower

Monday ended mostly lower in most of the contracts in the grain markets. From the floor of the CME Group, Scott Shellady shares his observation of Monday’s markets.
Shellady: “I think the most interested thing is that we are trying to blame some of the bean rally on some of the stimulous packages going through China at the moment to try and revive their economy even though their economy is growing at a much, much, much better rate. Corn and wheat were a little easier today. You can't really find a good buyer for wheat. I would have thought we would have seen it last Thursday at month’s end but they didn’t really show up. So once we didn’t really see the covering of the funds big short position in wheat, that gave fresh shorts a reason to say,’Hey if they aren’t come right back on the last day of the month — maybe we can add to this.’ And that has been the case so weaker in corn and wheat.
Chicago July Wheat ended Monday down 1 and 1/4 cents at 4-72 and 3/4. July corn ended the day down 1 and 3/4 cents at 3-61 and 1/4.
Portland prices for soft white wheat and white club wheat of ordinary protein were mixed down 1 and 1/4 to up a nickel at mostly 5-92 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were mixed down 1 and 1/2 cents to up a 1/2 of a cent at mostly 5-94 and 3/4. DNS wheat with 14 percent protein prices were down 4 and 1/4 cents at mostly 7-28.
June live cattle were up $1.55 on Monday at 150.72 and half. August Feeder cattle were up $2.25 at 217.32 and half. June class III milk was up 42 cents at 16-87.

 

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