Wheat In The Red

This is Matt Rice with the Market Line Report for June 17th. Soft prices in wheat spreading like a virus, having the same effect on the other commodities. Here's Oliver Sloup from the floor of the CME in Chicago, with II Trader to explain in more detail.

Sloup "Happy Thursday to you from the floor of the CME here in Chicago, I'm Oliver Sloup, with II Trader and your grain market update. It is a risk off type of day, we started the overnight session a lot weaker and that's really continued throughout todays session and into the afternoon session as we look to round out the week. Really it's just kind of a risk off day in commodities across the board with dollar catching a bid after yesterdays fed decision and I wouldn't be surprised to see that continue to round out the week."

Chicago July Wheat prices closed yesterday dn 5, at 473 ¼. July corn ended the day dn 3 ¾, at 425. Portland prices for soft white wheat of 10 ½ % protein for June were dn 5 to unch, ranging from 5-32 ½ to 5-60. Hard Red Winter wheat with 11 ½ % protein, prices for June were dn 6, ranging from 5-25 ¾ to 5-35 ¾. DNS wheat with 14 % protein, prices for June were dn 1 ¼, ranging from 6-24 ¼ to 6-39 ¼. Aug Live Cattle closed yesterday dn 22 ½ cents, at 113.42 ½. Aug Feeder cattle were dn 62 ½ cents, at 139.67 ½. June class III milk was dn 6, at 13-22.