Summary: Market Analyst Ted Seifried disCheaper grain in foreign markets, a stronger dollar and predictions of good weather all served to push the grain market lower. For the week, September wheat fell 22 cents, while the nearby corn contract was off 15 cents. Soybeans added to last weeks losses as good weather and cheaper foreign product pushed the August contract 17 cents lower. Nearby meal prices were contrary, again, this week and moved $5.50 higher per ton higher. In the softs, December cotton fell for the third week in a row losing 30 cents per hundredweight. Over in the dairy parlor, August Class III milk futures fell 56 cents. The livestock sector was mixed, as the August cattle contract lost 83 cents. Nearby feeders gained nearly $4. And the August lean hog contract rose $2.02. In the currency markets, the U.S. Dollar index gained nearly 2 ticks. Crude oil continued its downward slide closing $2 per barrel lower. COMEX Gold followed suit with a loss of $26 per ounce. And the Goldman Sachs Commodity Index declined more than 10-and-a-half points to settle at 404.70.cusses the commodity markets with host Mike Pearson.
