Wheat Markets Slightly Mixed on Wednesday

Corn continued to rally for the sixth session in a row while wheat closed slightly mixed. Sharing his observations of Wednesday’s market, is CHS Hedging’s Richard Plackemeir
Plackemeir: “Basically what the market was looking at coming into Wednesday, we’d seen a nice little rally Monday in beans, corn and wheat. Tuesday we saw a continuation of the rally in corn and wheat — beans not so much. Really what we were looking at as any market news this morning this weather seems to be clear over much of the Mid-West the last few days; however we have some forecast for rain coming in particularly into the Southern and Southwestern Corn Belts.”
Chicago December Wheat ended Wednesday up 1 and 1/2 cents at 5-07 and 3/4. December corn ended the day up 2 and 3/4 cents at 3-43 and 1/4.
Portland prices for soft white wheat were mixed down a 1/2 of a cent to up 1 and 1/2 cents at mostly 6-71. White club wheat prices were up 1 and 1/2 cents to 11 and 1/2 cents at mostly 9-18 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were mixed down 1 and 3/4 to up 8 and 1/4 cents at mostly 7-40 and 1/2. DNS wheat with 14 percent protein prices were mixed down a 1/2 of a cent to up 79 and 1/2 cents at mostly 9-11.
December live cattle were up 20 cents on Wednesday at 168-05. November Feeder cattle were up 50 cents at 242-93. November class III milk was up 11 cents at 21-41.