Grains Down Across The Board on Tuesday

I’m KayDee Gilkey with the Market Line Report for February 11, 2015.
Grains all closed lower on Tuesday, after USDA released its report. The crude oil market was down $2 to $3 dollars a barrel and there was an increase of the value U.S. dollar. From the floor of the CME Group, Joe Vaclavik shares his observations of Tuesday’s markets.
Vaclavik: “Grain markets here in Chicago were lower across the board on Tuesday. The key feature of Tuesday’s trade would have been the monthly USDA crop production and WASDE report. The report was seen a little bit friendly for the corn market, potentially a little friendly for the soybean market and a little bit negative for the wheat market. But at the end of the day, it was almost like that report never happened. We finished the day mostly within the previous day’s ranges and really didn’t cover any new ground here.
Chicago May Wheat ended Tuesday down 8 cents at 5-22 and 1/4. May corn ended the day down 3 and 1/4 cents at 3-96 and 1/4.
Portland March prices for soft white wheat of ordinary protein were mixed down 8 cents to up a dime ranging between 6-55 and 6-62 and 3/4. White club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down 9 and 1/2 cents at mostly 6-61. DNS wheat with 14 percent protein prices were down 6 to 11 cents at mostly 8-60.
April live cattle were up 12 and half cents on Tuesday at 153-77 and half. April Feeder cattle were down $1.55 at 201-72 and half. April class III milk was down 46 cents at 15-even.