Wheat Futures End Slightly Lower

I'm KayDee Gilkey with the Market Line Report for September 5, 2013. ? Wheat futures traded slightly lower on the day Wednesday, mostly in line with weaker corn and soybean markets. Corn trading lower as harvest moves forward and soybeans saw double digit losses on spillover pressure from the overnight session and weak technical signals. From the floor of the CME Group, Todd Hortwitz shares his observations of Wednesday's markets. Horwitz: "On Wednesday's grain trade we saw lower prices across the board. Corn tried to make a run at that $5 level but again failed miserably. Corn looks to be at a range of $4.60 to $5. I would certainly be looking to sell corn anywhere near $5. I think that the market is still in a sound downtrend. There are plenty of supplies, I don't see any problem in the corn markets. Wheat continues to be the weak sister and continues to get pounded on a regular basis." Chicago December Wheat ended Wednesday down a penny at 6-46 and 1/4. December corn ended the day down 5 and 3/4 cents at 4-69 and 1/2.??Portland prices for soft white wheat were steady at mostly 7-30 and 3/4. White club wheat were steady to up 9 cents at mostly 7-37 and 3/4. Hard Red Winter Wheat with 11.5 pct protein prices were down a penny at mostly 8-12. DNS wheat with 14 pct protein prices were down 3 cents at mostly 8-41. ??October live cattle were down 20 cents Wednesday at 126 even. October Feeder cattle were up 15 cents at 159-25. October class III milk was up 11 cents at 18-23.