Wheat Ends Tuesday Slightly Mixed

I’m KayDee Gilkey with the Market Line Report for May 13, 2015.
Corn and wheat closed slightly mixed with estimates near expectations in the USDA report. From the floor of the CME Group Todd Horwitz shares his observations of Tuesday’s markets.
Horwitz: “Tuesday’s grain trade, we saw a crop report come out and the biggest thing caught off guard was the soybeans as they actually turned from much higher to much lower throughout the rally and ended up closing down on the day. But overall not a surprise. We are really just stuck in these big sweeping trading ranges while the markets await more information. The reports themselves — there’s never really that much of a big surprise with today’s technology we really get ahead of it all and have a much better idea.”
Chicago July Wheat ended Tuesday down a half a cent at 4-80 and 1/2. July corn ended the day up a half of a1/2 cents at 3-61.
Portland prices for soft white wheat and white club wheat of ordinary protein were steady to down a 1/2 of a cent at mostly 5-95 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 1 and 3/4 to 6 and 3/4 cents at mostly 6-06 and 3/4. DNS wheat with 14 percent protein prices were mixed down 18 and 3/4 cents to up 1 and 1/4 cents at mostly 7-24 and 3/4.
June live cattle were up $1.22 and half on Tuesday at 151.47 and half. August Feeder cattle were down 97 and half cents at 216.45. June class III milk was down 7 cents at 16-98.