Choppy Day for Wheat Markets End Lower

It was a choppy day in the wheat markets and all wheat contracts ended lower on the day. From the floor of the CME Group Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grain trade was a little like a soap opera: they laughed they went up; they cried and they went down and at the end of the day we settled somewhere plus or minus across the board. I think this is the kind of action you can expect moving forward. I think wheat remains the most wild grain we can see — Decs wheat was up to $5.40 this morning and then ended up coming back all the way down. Corn both sides of unchanged. Again I think this is the kind of action you can look for in these markets right now. The dollar is under pressure today — which is helping — but it didn’t help enough.”
Chicago July Wheat ended Wednesday down 2 and 1/4 cents at 5-15. July corn ended the day up half a cent at 3-65 and 3/4.
Portland prices for soft white wheat of ordinary protein were steady to down 2 and 1/4 cents for August delivery of new crop ranging between 5-85 and 6-25. White Club wheat of ordinary protein had no nearby price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down 6 and 1/4 cents at mostly 6-27 and 1/4. DNS wheat with 14 percent protein prices were down 8 and 1/4 cents at mostly 7-61.
August live cattle were down $1.37 and a half on Wednesday at 150.62 and half. August Feeder cattle were down $1.42 and half at 221.90. July class III milk was down 17 cents at 16-73.