Down Day for Wheat Markets

I’m KayDee Gilkey with the Market Line Report for June 16, 2015.
I'm enjoying the gorgeous scenery in Steamboat Springs for the Colorado Protein Producers Summit. It was a lot prettier than what happened in the wheat markets on Wednesday. From the floor of the CME Group, Virginia McGathey shares
McGathey: “Monday in the grain markets has very interesting lows. Today we posted a another 16 cent lower day in the wheat market 50 cents in the last four days. It looks like there is no worries that there is going to be any quality problems. And in the end — rain makes grain. That has really brought the market down. Lack of demand also around the world is also putting pressure on the wheat market. Now with that wheat market so low, that brings the corn market down. We’re down around 6 cents right now and corn has been sympathetic to the wheat.”
Chicago July Wheat ended Monday down 14 and 1/2 cents at 4-89 and 1/4. July corn ended the day down 4 and 3/4 cents at 3-48 and 1/4.
Portland prices for soft white wheat of ordinary protein were steady to down 10 and 1/4 cents for August delivery of new crop ranging between 5-85 and 5-95 and 1/4. White Club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down 17 and 1/4 cents at mostly 6-02 and 3/4. DNS wheat with 14 percent protein prices were down 15 and 3/4 cents at mostly 7-08 and 1/2.
August live cattle were up 32 and half cents on Monday at 151.12 and half. August Feeder cattle were up 45 cents at 223.90. July class III milk was down 21 cents at 16-95.