Not A Pretty Day For Grain Markets

Grain all closed lower on Wednesday as grain traders look to be squaring up

against Friday's USDA Report. March wheat future dipped under six dollars. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday's markets.

Horwitz: "Wednesday's grain trade saw an extended late day sell off in the markets. We've been seeing some weakness across the board in all the grains but no more weaker than we saw on late day Wednesday as the markets really fell apart. Wheat finally again broke below that $6. Wasn't it just a couple of months ago we were at $7? Now we are below $6 and it looks like a good resistance level. They tried to base around the $6 level before and finally giving up the ghost."

Chicago March Wheat ended Wednesday down 13 and 3/4 cents at 5-88 and 3/4. March corn ended the day down 9 cents at 4-17.??Portland prices for soft white white were down 13 and 3/4 cents at mostly 6-77. White club wheat prices were down 13 and 3/4 cents at mostly 6-93 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 8 and 1/4 cents at mostly 7-55. DNS wheat with 14 percent protein prices down 3 and 3/4 cents at mostly 8 even.

?February live cattle were unchanged Wednesday at 136-52 and half. March Feeder cattle were up 72 and half at 168-55. February class III milk was up 30 cents at 20-45.