Wheat Lower Monday Ahead of USDA Report

I’m KayDee Gilkey with the Market Line Report for August 12, 2014.
It was a rather choppy day in the wheat markets on Monday and all the wheat markets ended lower. From the floor of the CME Group Scott Shellady shares
Shellady: “For a Monday morning, going over a recap of what we’ve seen today — and it’s been a pretty interesting one. We’ve seen some strength in the corn market today, and we’ve seen the weakness in the beans. I think I’m going to play the getting out of the beans-corn spread card. That is what I’ve heard is the chatter on the floor so short corn being covered and long beans being sold. That is why we are seeing that unwinding there. A little weakness in the wheat as I speak down about 3. Those are the big stories today — if there are any big stories. Today was a very quiet day, economically speaking.”
Chicago September Wheat ended Monday down 2 and 3/4 cents at 5-46 and 1/2. September corn ended the day up a nickel at 3-56 and 3/4.
Portland prices for soft white wheat were steady to down 2 and 3/4 cents at mostly 6-78 and 1/2. White club wheat prices were down 2 and 3/4 cents at mostly 7-61 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 6 and 1/2 to 10 and 1/2 cents at mostly 7-17 and 3/4. DNS wheat with 14 percent protein prices were down 2 and 1/2 cents at mostly 7-92 and 1/4.
October live cattle were up 45 cents on Monday at 150-45. September Feeder cattle were up $2.70 at 217-42 and half. September class III milk was up 26 cents at 21-80.