No fireworks for wheat at yesterdays close
I'm Matt Rice with the Market Line Report for July 2, 2015. With the holiday influencing markets, wheat took a bit of a downturn. From the floor of the CME Group, Todd Horwitz explains:
Horwitz:" The wheat has been punished today relentlessly, down in the 30 to 40 cents here. Remember, wheat had been much stronger, we came all the way back to $4.90 to over $6. To only sell off a little bit. It's not like it's an up and down day, it's been a constant pushup."
Chicago September Wheat ended Wednesday down 27 ¼ cents at 5-87. September corn ended the day up 4 cents at 4-23 1/4.
Portland prices for soft white wheat of ordinary protein was down 32 and 1/4 cents for August delivery of new crop, ranging between 6-45 and 6-83. White Club wheat of 10.5 % protein was down 27 and 1/4 to 24 at mostly 713 1/2. August New crop Hard Red Winter wheat with 11.5 percent protein, was down 17.3/4- 22.3/4 ranging from 6-47 ½ to 6-72 1/2. August new crop DNS wheat with 14 percent protein prices were down 15 ¼, ranging from 7-52 to 7-62. August live cattle were up 3 dollars on Wednesday at 151.7 ½. August Feeder cattle were up 3.80 at 218.52 1/2. August class III milk was up 11 cents at 16-61.
