Wheat Market Down Slightly

The wheat market needs to show better demand, even with U.S. winter wheat weather

slipping, as India continues to look to dump stocks ahead of another good crop. From the floor of the CME Group, Frank Lesh shares his observations of Wednesday's markets.

Lesh: "Mixed markets today, although not a lot of change. One issue that we are looking at going forward in here is prevent plant insurance -- that comes up in February and March. Last year there was almost 8 million acres that went to prevent plant. In addition to that the CRP idled about 1.3 million acres so there is a lot of talk right now that we may see that acreage come back into markets this year."

Chicago March Wheat ended Wednesday down a penny at 5-61 and 1/4. March corn ended the day up 1 and 1/4 cents at 4-26 and 1/4.??Portland prices for soft white white were down a penny at mostly 6-74 and 1/2. White club wheat prices were also down a penny at mostly 7-08. Hard Red Winter wheat with 11.5 percent protein prices were up 3 and 1/2 cents at mostly 7-69 and 3/4. DNS wheat with 14 percent protein prices were up 3 cents at mostly 8-69 and 3/4.

?February live cattle were up $2.12 and half Wednesday at 143-67 and half. March Feeder cattle were up $2.05 at 170-37 and half. February class III milk was down 33 cents at 22-07.