Monday Finds Wheat Market Down

From the floor of the CME Group Todd Horwitz shares his observations of Monday’s markets.Horwitz: “ Monday’s grain trade as we take a look — after Friday’s supply and demand big report I don’t think we saw a tremendous amount of action. The big picture is murky at best and certainly as we talked about selling corn around at the $5.20 level and wheat at the $7.30 level — I don’t think anything else has changed here. It looks to me like the planting season is going to be great. It looks to me that things are going to be rosy as far as the growers are concerned. It looks like there is going to be plenty of supply and not a big demand issue and as long as the weather holds I think that is the way we go it.”?Chicago July Wheat ended Monday down 7 and 1/2 cents at 7-15. July corn ended the day down 8 cents at 4-99 and 1/2.Portland prices for soft white wheat were steady to down 7 and 1/2 cents at mostly 7-85. White club wheat prices were down 7 and 1/2 cents at mostly 8-30. Hard Red Winter wheat with 11.5 percent protein prices were down 9 and 1/4 to 19 and 1/4 cents at mostly 9-07 and 1/2. DNS wheat with 14 percent protein prices were mixed down 4 and 1/2 cents to up a half of a cent at mostly 9-23 and 3/4.June live cattle were down 40 cents on Monday at 137-65. August Feeder cattle were up 50 cents at 191-87 and half. June class III milk was down 12 cents at 21-11.