Slow Trade and Light Volume Continues

March Chicago wheat posted another new low for 2013, influenced by Thursday's selling in corn. From the floor of the CME Group, Scott Shellady shares his observations of Thursday's markets.

Shellady: "Kinda of another quiet day. If you looked at the volumes, you absolutely you know it is the holiday season. I think on Tuesday we did about 40,000 corn futures I think that is the lowest I've ever seen-- so the volume is really thin it's that time of the year, we expect that kind of thing. But it also means that we need to keep everything in perspective and not blow it out of proportion. So let's make it short and sweet -- we have wheat down a 1/4 on the day. We've got corn down 8 and 1/4 on the day and we've got beans down 15 cents on the day."

Chicago March Wheat ended Thursday down a 1/4 of a cent at 6-06. March corn ended the day down 8 and 1/4 cents at 4-46 and 1/2.??Portland prices for soft white white were down a 1/4 of a cent at mostly 6-78 and 1/2. White club wheat prices were down a 1/4 of a cent at mostly 7-03 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 2 cents at mostly 7-44 and 1/2. DNS wheat with 14 percent protein prices were mixed down 2 and 1/4 to up 12 and 3/4 cents at mostly 8-05 and 1/4.

?February live cattle were up 42 and half Thursday at 134-15. January Feeder cattle were up 35 cents at 166-60. January class III milk was down 4 cents at 19-60.