Wheat Market Trades Lower on the Day

Wheat Market Trades Lower Most of Day

I’m KayDee Gilkey with the Market Line Report for Feb. 15, 2013. ?
KC and Chicago wheat traded lower for most of the day Thursday despite an impressive display of export sales in the morning. From the floor of the CME Group, Frank Lesh shares his observations of Thursday’s markets.
Lesh: “Lower markets across the board in here today but not as low as it has been. This is the first day this week we haven’t made new lows for corn, wheat or soybeans. Right now corn is off looks like about half a cent going into the close, and wheat is down about 3 cents. Once again maybe signs of low startings, it is the first day we haven’t made new lows in a while. That is the first thing we need to do is quit going down.”
Chicago March Wheat ended Thursday down 3 and 1/2 cents at 7-32. March corn ended the day down 3/4 of a cent at 6-94 and 3/4.??Portland prices for soft white wheat and club wheat were up 2 to 4 and 1/2 cents at mostly 8-63 and 1/2. Hard Red Winter Wheat with 11.5 pct protein prices were down 5 and 1/4 at mostly 8-91. DNS wheat with 14 pct protein prices were mixed down 3 and 3/4 cents to up 11 and 1/4 cents at mostly 9-34 and 1/4. ??April live cattle were up Thursday 37 and half cents at 129-77 and half. March Feeder cattle were up $1.32 and half at 142-67 and half. March class III milk was down 8 cents at 17-36.