Positive End Wednesday Across the Wheat Markets

I’m KayDee Gilkey with the Market Line Report for February 12, 2015.
Wednesday closed with mixed markets — beans and wheat higher and corn lower. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grain market — a little bit mixed trading here but I think if you take a look at the past week — where have we gone? WE’re stuck in quick sand. There is a lot of reasons to believe we will go lower — which I don’t believe we’re going to go. There are a lot of reasons to go higher. So if we take a look at what is going on — we’ve got all the news priced it all around. We’ve got oversupply not much demand — reason to go lower. We’ve got a very strong dollar — reason to go lower. Yet we have not gone lower - what is wrong with the picture?”
Chicago May Wheat ended Wednesday up 1 and 1/2 cents at 5-23 and 3/4. May corn ended the day down 2 and 1/2 cents at 3-93 and 3/4.
Portland March prices for soft white wheat of ordinary protein were up 5 and 1/4 to 8 and 3/4 cents ranging between 6-63 and 3/4 and 6-68. White club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were up 5 and 1/4 cents at mostly 6-66 and 1/4. DNS wheat with 14 percent protein prices were up 6 cents at mostly 8-66.
April live cattle were down $2.67 and half on Wednesday at 151-10. April Feeder cattle were down $3.02 and half at 198-70. April class III milk was up 2 cents at 15-02.