Another Down Day in the Grains

I’m KayDee Gilkey with the Market Line Report for January 9, 2015.
It was another down day for the grains as well as the cattle — both fats and feeder markets. From the floor of the CME Group, Virginia McCathey shares her observations of Thursday’s markets.
McCathey: “Today in the grain market we had a little bit of a sell off. Now starting with wheat — it was down 12 cents today. It sure looks like what happen for the last couple of weeks was buy the rumor, sell the fat. The worries that there was going to be bitter cold and not enough snow to protect the winter wheat - it happened and now we are in the bitter cold and everybody is selling the market. Right now we are down 12 cents down to 5-67 which is down a dollar from just a week ago.”
Chicago March Wheat ended Thursday down 12 and 1/2 cents at 5-67. March corn ended the day down 2 cents at 3-94 and 1/4.
Portland prices for soft white wheat of ordinary protein were mixed down 12 and 1/2 to up 2 cents at mostly 6-64. White club wheat of ordinary protein prices were mixed down 12 and 1/2 to up 2 cents at mostly 9-31. Hard Red Winter wheat with 11.5 percent protein prices were down 12 and 1/4 cents at mostly 6-95 and 3/4. DNS wheat with 14 percent protein prices were down 7 and 1/4 cents at mostly 8-53 and 1/2.
February live cattle were down $2.30 on Thursday at 163-60. March Feeder cattle were down $3.27 and half at 217-05. February class III milk was down a penny at 14-93.