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Quotes |
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KW - WHEAT - KCBT |
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High |
Low |
Last |
Chg |
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Jul
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561'4 |
556'2 |
554'6s |
-9'0 |
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Sep
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573'4 |
563'2 |
564'2s |
-9'2 |
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Dec
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590'0 |
580'0 |
580'6s |
-9'2 |
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Mar
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603'0 |
597'0 |
596'6s |
-9'4 |
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May
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616'4 |
610'0 |
607'4s |
-9'2 |
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C - CORN - CBOT |
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High |
Low |
Last |
Chg |
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Jul
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345'6s |
-6'0 |
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Sep
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345'6s |
-10'6 |
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Dec
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357'4s |
-11'6 |
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Mar
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371'0s |
-11'4 |
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May
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380'4s |
-11'4 |
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Jul
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389'6s |
-12'0 |
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Sep
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395'0s |
-11'0 |
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S - SOYBEANS - CBOT |
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High |
Low |
Last |
Chg |
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Jul
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1243'0s |
-15'4 |
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Aug
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1154'0s |
-6'4 |
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Sep
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1061'0s |
-7'4 |
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Nov
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1006'0s |
-9'4 |
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Jan
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1007'6s |
-9'6 |
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Mar
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1001'0s |
-10'0 |
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LC - LIVE CATTLE - CME |
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High |
Low |
Last |
Chg |
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Aug
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84.875s |
- 0.875 |
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Oct
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90.225s |
- 0.550 |
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Dec
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90.050s |
- 0.075 |
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Feb
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90.100s |
0.200 |
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Apr
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90.600s |
- 0.400 |
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Jun
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88.050s |
0.125 |
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FC - FEEDER CATTLE - CME |
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High |
Low |
Last |
Chg |
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Aug
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103.450s |
- 0.325 |
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Sep
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102.125s |
- 0.050 |
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Oct
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102.475s |
0.225 |
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Nov
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102.500s |
0.100 |
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Jan
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101.400s |
0.400 |
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Mar
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100.200s |
0.200 |
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Grain Comments |
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Grain Comments for 7-2-09
CORN
- Influences from the outside markets sent corn futures lower in today’s Corn futures. The dollar rallied and the crude oil and stock market suffered heavy losses. Technical sellers continued their action as the trend remains down. A late round of selling pushed corn futures to the lows of the session.
- A good weekly export sales number had no effect on the corn trade. A total of 1.232 million metric tons of corn was sold. Japan, South Korea, Egypt and Taiwan accounted for 75% of the business. Sorghum sales made a marketing year weekly high of 123,000 metric tons with most of the business from Mexico.
- A rain event passes through the Corn Belt during the weekend. The showers favor the southern region. The two weather models differ on the extended forecast. One calls for a pressure ridge to set in the middle of next week. The other model questions the intensity of this ridge.
- The corn market will focus on the weather for the next 30 to 60 days. The pollination timeframe varies from the eastern to the western section. In the west, pollination could start mid-July. The eastern section will see a delay in pollination because of the late planting. Therefore, the weather will dictate the price action for a longer period of time.
- It is the eats versus the west. The question is can the good yields in the west offset the lower yields expected in the east.
- The corn market is searching for a bottom on the charts. Today, a new low for the move was established. Many feel the December corn contract will retrace to the $3.50 area before it reverses. Upside resistance is in the $4.00 area if we see adverse weather conditions.
WHEAT
- Wheat futures made today’s low on the opening and rebound but traded on the minus side the entire session. A lower U. S. dollar and its effect to the other markets provided the negative influence.
- The weekly sales number of 242,000 metric tons failed to get in the range of pre-report estimates. A totals of 15 countries purchased wheat from the United States last week.
- In daily sales, a Taiwan feed mill bought 83,000 of U. S. wheat. Japan completed their weekly purchase and secured 87,000 from the United States. Look for next week’s sales report to improve if we see some standard business.
- The Argentina’s government lowered their wheat planted acres to 2.8 million hectors. They keep reducing their estimate for planted wheat acres because of dry weather conditions. They do have some clouds on their radar screen which should provide some relief.
- The selling of wheat started the first of June and continues. Harvest pressure accounts for the drop in price. Kansas should show a 60% plus number on next Monday’s report. The yields in the northern section of Kansas continue to impress producer. Wheat is being put on the ground in a number of locations.
- Traders are looking for a bounce in price for the wheat but the question is from wheat level. The charts are extremely oversold. It may take a bounce to pry lose some cash grain from producers.
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Local Conditions |
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| Oakley, KS |
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| Chg Zip Code: |
| Temp: |
69oF |
Feels Like: |
69oF |
| Humid: |
81% |
Dew Pt: |
63oF |
| Barom: |
29.88 |
Wind Dir: |
E |
| Cond: |
Clear |
Wind Spd: |
9 mph |
| Sunrise: |
6:25 |
Sunset: |
9:17 |
| As reported at GOODLAND, KS at 9:00 PM |
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Local Forecast |
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Oakley, KS |
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Saturday
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Sunday
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Monday
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Tuesday
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Wednesday
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High: 83oF
Low: 63oF | High: 83oF
Low: 56oF | High: 90oF
Low: 62oF | High: 97oF
Low: 65oF | High: 101oF
Low: 67oF |
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