Wednesday Had Continued Lower Grain Prices

Grains remained under selling pressure again on Wednesday. From the floor of the CME Group, Alexandra Lively shares her observations of Wednesday’s markets.
Lively: “From the highs hit on Monday to the lows this morning, this represents over a 7 and half percent move in March corn, 6 and half percent move in March beans and almost a 5 and half percent move in March Chicago wheat. Many traders and analysts tell me that there is some skepticism over demand projections and that they are usually overstated by the USDA. So demand for corn and wheat is still of course an issue and some analysts believe we are already seeing the beginning of the seasonal shift of demand to South America.”
Chicago March Wheat ended Wednesday down 10 and 1/4 cents at 5-37 and 3/4. March corn ended the day down 4 and 3/4 cents at 3-81.
Portland prices for soft white wheat of ordinary protein were down a nickel to 10 and 1/4 cents at mostly 6-45 and 3/4. White club wheat of ordinary protein prices were down a nickel to 10 and 1/4 cents at mostly 9-12 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 6 and 3/4 cents at mostly 6-63. DNS wheat with 14 percent protein prices were down 8 cents at mostly 8-23 and 1/2.
February live cattle were down $1.70 on Wednesday at 155-75. March Feeder cattle were down 82 and half cents at 210-10. February class III milk was down 71 cents at 14-36.