Wheat Markets Lower On Wednesday

Wednesday wheat was down across all of the three markets. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday's markets.

Horwitz: "Wednesday's grain trade saw a fairly mixed market. I think there is a bigger story to tell here as each and every week we see a rotation from one crop to the other. We see one move up and one get extremely damaged. This week it is wheat which is completely in the tank, trading down in the $5.60 level. Wheat at some point will probably catch a bottom but I think that will be a rally that you will want to sell. The trend is just awful -- there is no need or demand. So I would like

Chicago March Wheat ended Wednesday down 11 and 3/4 cents at 5-67 and 3/4. March corn ended the day down 5 and 3/4 cents at 4-25 and 3/4.??Portland prices for soft white white were down 11 and 1/2 cents at mostly 6-69 and 1/2. White club wheat prices were down 11 and 1/2 cents at mostly 7-02 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 1 and 1/2 to 11 and 1/2 cents at mostly 7-43 and 1/2. DNS wheat with 14 percent protein prices were mixed down 7 cents to up 3 cents at mostly 8-67.

?February live cattle were up $1.77 and half Wednesday at 138-42 and half. March Feeder cattle were up $1.20 at 168-02 and half. February class III milk was up 3 cents at 21-04.