11/20/08 Light trading with negative closings

It was a light trading day with quite movement in grains on Wednesday. But it was a day that the commodity markets took a lead from Wall Street and went on a down note. Here's the Linn Group's Nelson Byrd. BYRD "Crude traded below 53 dollars at one point and the dollar found strength only adding to a push against the grains. Wheat, corn and beans all finished lower." Kansas City Board of Trade President Jeff Borchardt says hedge funds and other financial interests are taking their money out of commodity markets. BORCHARDT "And then we began to realize that the globe was going to have record wheat production and so that continued to put downward pressure to the point of where we are now." On Wednesday Chicago December wheat was down 2 ¾ t 5.25 ½. December corn was 3.85, down 1 1/4 Portland cash white 5.38 Club White mostly 5.83. Pacific Northwest HRW 11.5 percent protein down .02, mostly 6.08 Dark Northern Spring 14 percent protein down .07, mostly 8.05. Cattle traded sharply lower yesterday thanks in part to some unsubstantiated negative rumors. December live cattle off 2.95 to 84.20. January feeders lost 1.40 closing at 89.85. December Class III milk at Chicago