Lackluster and Lower Grain Markets on Wednesday

Lackluster and Lower Grain Markets on Wednesday

More of the same on Wednesday’s grain trade lower wheat and corn prices again. From the floor of the CME Group Todd Horwitz shares his observation of Wednesday’s markets.
Horwitz: “Wednesday’s grain trade pretty much the same — moderate, flat to lower. I think what we are seeing here is really a very, very dull market. We’ve seen corn break through contract lows and wheat continue to be extremely volatile back and forth here. I really don’t think there is a heck of lot to do. We can talk about the Dollar and the effect it has had but I think really what you have here is a market that is not only tired but that there is not really a lot of interest in. I think the overall volume and volatility is drying up.”
Chicago July Wheat ended Wednesday down 5 and 3/4 cents at 4-87 and 3/4. July corn ended the day down a 5 and 1/2 at 3-49 and 1/2.
Portland prices for soft white wheat of ordinary protein were steady to up 1 and 3/4 cents for August delivery of new crop ranging between 5-85 and 6-02 and 3/4. White Club wheat of ordinary protein had no nearby price comparisons. May delivery of Hard Red Winter wheat with 11.5 percent protein prices were down 7 and 1/2 to 12 and 1/2 cents at mostly 6-10. DNS wheat with 14 percent protein prices were down 7 and 1/2 cents ranging between 7-20 and 3/4 and 7-65 and 3/4.
June live cattle were up 67 and half cents on Wednesday at 152.47 and half. August Feeder cattle were up $1.82 and half at 221. 42 and half. June class III milk was up 15 cents at 16-53.

 

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