Wheat Market Closed Mostly Unchanged

I’m KayDee Gilkey with the Market Line Report for April 18, 2013. ?
Wheat traded and closed pretty much unchanged as temperatures are to dip below freezing in the Southern Plains and to the north snow is falling in the Dakota’s and in Minnesota. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.

Horwitz: “Today in the grains, soybeans a little higher, wheat a little higher and corn just slightly lower. But as we look at the overall picture, the big rush out of alternative assets, we see a lot of selling pressure. And I think you’ll see that soybeans and wheat will continue in their bear trend up in these levels somewhere around that 14-20 in the soybeans and 7-20 in wheat would be a great sell point and 6-80 in the corn. As we can see in the overall markets there is a big exodus out of all these alternative investments.”

Chicago May Wheat ended Wednesday up a 1/4 of a cent at 7-03 and 3/4. May corn ended the day down 2 and 3/4 cents at 6-60 and 1/2.??Portland prices for soft white wheat and club wheat were up 1 and 1/2 to 3 and 3/4 cents at mostly 7-92. Hard Red Winter Wheat with 11.5 pct protein prices were up a 1/4 of a cent at mostly 8-83. DNS wheat with 14 pct protein prices were down 3 and 1/4 cents at mostly 9-28 and 3/4. ??June live cattle were up Wednesday $1.37 and half at 121-82 and half. May Feeder cattle were up 85 cents at 140-90. May class III milk was up 28 cents at 19-29.