Wheat Markets Edges Lower

Wheat futures edged lower throughout the session, mostly in line with the weaker action in the corn pit. Traders noted light volume ahead of the weekend. From the floor of the CME Group, Frank Lesh shares his observations of Friday’s markets.

Lesh: “Friday’s trade in the grain markets we were lower across the board, but certainly not for the week however for some of these markets. December corn was down 9 cents and we had December wheat down 6 cents. On the week however was a different story, corn was up 10 cents for the week and the only laggard for the week was wheat at 4 cents.”

Chicago September Wheat ended Friday down 6 and 1/2 cents at 6-31. September corn ended the day down 7 and 3/4 cents at 4-73 and 3/4.??Portland prices for soft white wheat were down 5 to 6 and 1/2 cents at mostly 7-20 and 1/2. White club wheat was down 5 to 6 and 1/2 cents at mostly 7-24 and 1/2. Hard Red Winter Wheat with 11.5 pct protein prices were down 4 and 3/4 cents at mostly 8-09 and 1/4. DNS wheat with 14 pct protein prices were down 2 and 1/4 cents at mostly 8-41 and 1/4. ??October live cattle were down 17 and half cents Friday at 127-92 and half. September Feeder cattle were up 60 cents at 157-67 and half. September class III milk was up 15 cents at 18-23.