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Heat Takes its Toll on Grains

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  • Description

    FBN’s Jeff Flock at the CME on how grain prices are being impacted by the Midwestern heat wave.

  • Duration 2:01
  • Date

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Heat wave in the midwest finally breaks but the little rain in the forecast -- Ghraib prison gonna continue to rally -- are they gonna cool -- what's going on dip lots and topped 300 hits the CM me.

Jeff it's got it seems like every day different down there.

I I thought it could've gone either way I'm Tracy but I tell you if you look here in the green room and we are deep into the green room today.

Surrounded by soybean oil soybean meal.

We've got the -- -- over here Bob spins around we get the corn corn options pit.

Everything is up once again I get your kit with me wanna put the board -- cheered as we talk.

Corn is -- looks like at December 4 to 38 beings are up 46.

Weeks I've got up 24.

What's the deal it's quite simple no -- equals no grain and we -- actually no precipitation over mostly corn belt this weekend but week we -- law.

Did not help someone certainly will help but in the end you need some more rain and we -- which -- not get it.

I'll -- around if you can't -- -- -- the corn options at this looks like the old days.

You know the corn pit that the week at this the being that this is how it used to walk in all the pits packed elbow to elbow.

-- a lot of people are in this market it's actually beautiful over here.

And really these guys help contribute make a free and active market and it's just wonderful see I'm just looking Tracy at the up volume if you don't think there's a lot of people in this market.

I just let's check the corn by 161000.

Contracts traded today alone tomorrow we're gonna be out on a dairy farm -- searching milk prices tick up again.

Because of the cost defeat no doubt about it you're gonna see some up production cutbacks if we don't get dairy prices motivated soon and there's still lot of demand out there particularly from the Far East so we need higher prices to be -- We'll be uniform where they've got fans going and water sprinklers on the cows try to keep them cool because their production is down as a result -- -- hot.

And with -- attitude.

Battle -- -- that gazillion views complete -- -- tell you how high milk prices have gone and wow.

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