Western Standard - September 12, 2023


MPC Daily Market Update Sep 12, 2023


Episode Stats


Length

1 minute

Words per minute

163.60735

Word count

205

Sentence count

24


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

USDA releases weekly grain and pulse prices after the release of its monthly report. Grain markets are mostly bearish after the report. Let's take a look at how markets are reacting to the report and see how prices have reacted to it.

Transcript

Transcript generated with Whisper (turbo).
00:00:00.800 We had the USDA report come out today and I'm not saying it's as surprising as two feet of snow in the middle of September, but I was definitely surprised it came out mostly bearish.
00:00:10.600 Let's take a look at a few of these prices here and how they're reacting once this report came out.
00:00:15.240 Feed grains, cash barley's holding at $3.40 and feed wheat's holding at $3.58 per metric.
00:00:21.440 Corn's down $3 to $3.55 per metric.
00:00:24.380 Taking a look at the milling wheat market, December Minneapolis futures are up $0.09 to $7.76 per bushel, with local hard red spring bid for September movement at $9.25 per bushel delivered.
00:00:36.500 In the oil seeds, nearby canola futures are down $15 to $7.52.60 per metric ton, with delivered values for September movement at $16.90 per bushel.
00:00:47.540 Continuing on to the pulse markets, nearby red lentil prices are trading at $0.35 per pound, and yellow peas remain at $11 per bushel.
00:00:56.260 Finishing up with the cattle markets, October live cattle slipped $0.32.50 to $1.83.90 per hundredweight.
00:01:03.060 For more information on pricing and picked up on farm options, give me a call at 403-394-1711.
00:01:10.140 I'm Mike Van Dyke at Marketplace Commodities, accurate real-time marketing information and pricing options.