Grains Move Back Down Wednesday End Lower

I’m KayDee Gilkey with the Market Line Report for February 5, 2015.
Grain bids were slightly to moderately lower. The grain markets saw pressure from the lower outside markets. From the floor of the CME Group, Charles Nedoss shares his observations of Wednesday’s markets.
Nedoss: “Corn and bean prices gave up much of yesterday’s gains as the dollar and crude did reverse course. The strength of the U.S. dollar and lower crude value did weigh on prices. We did see in the previous session again weak dollar and higher energy prices. Thoughts on higher energy prices could work through the grain sector in terms of biodiesel and ethanol — though we did see those markets reverse bid course today.”
Chicago May Wheat ended Wednesday down 3 and 3/4 cents at 5-14. May corn ended the day down 2 and 1/4 cents at 3-91 and 1/2.
Portland March prices for soft white wheat of ordinary protein were steady to up 11 and 1/4 cents at ranging between 6-35 and 6-54. White club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down 6 and 1/4 cents at mostly 6-59 and 3/4. DNS wheat with 14 percent protein prices were steady to down a dime at mostly 8-56.
April live cattle were down $1.92 and half on Wednesday at 148-65. April Feeder cattle were down $3.05 at 196-85. April class III milk was down 12 cents at 15-50.