Wheat Markets End Higher Again on Wednesday

Prices were higher across all the grain markets on Wednesday. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grain trade saw higher prices across the board. Are we surprised? I don’t think so. We’ve been looking for higher prices. We felt that we would find some levels of support and I think we’ve certainly found them. You look at corn at the $3.60 level and wheat a $5. 30 or $5.40 levels. I think those are great levels. Wheat had a bit of bigger of pop than most today. Probably more based on what is going on in Ukraine but at the end of the day, we are not looking to sell grains here we are looking to buy. We’re looking for opportunities.”
Chicago September Wheat ended Wednesday up 15 and 1/2 cents at 5-68. September corn ended the day up 7 cents at 3-63 and 1/4.
Portland prices for soft white wheat were mixed down 24 and 1/2 to up 2 and 1/2 cents at mostly 6-96. White club wheat prices were steady to up 10 and 1/2 cents at mostly 7-67. Hard Red Winter wheat with 11.5 percent protein prices were up 13 and 1/2 cents at mostly 7-56 and 1/4. DNS wheat with 14 percent protein prices were up 8 and 3/4 to 13 and 3/4 cents at mostly 8-26.
October live cattle were up 30 cents on Wednesday at 155-95. September Feeder cattle were unchanged at 220-72 and half. September class III milk was up 6 cents at 21-55.