Wheat Markets End Wednesday Mostly Lower

Wednesday’s markets ended the day mostly lower for the wheat markets. From the floor of the CME Group, Todd Horwitz shares
Horwitz: “Wednesday grain trade saw pretty much of a mixed market but we saw some real wild action back and forth with corn ending up going back to positive territory with new highs overnight. But I think more importantly is the overall action that we are see. One of the things you need to understand is that everything bad that could happen has already happened. We already know about the strong dollar. We already know about the great planting. Everything is been good and yet we couldn’t break it down which is why we saw the big rally. Monday we had the USDA we saw a dramatic sell-off because the commercial has been buying for five days.”
Chicago September Wheat ended Wednesday down 4 and 1/4 cents at 5-66 and 3/4. September corn ended the day up 1 and 1/4 cents at 4-29 and 1/2.
Portland prices for soft white wheat of ordinary protein were steady to down 4 and 1/4 cents for August delivery of new crop ranging between 6-26 and 3/4 and 6-35. White Club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down 2 and 1/4 cents at mostly 6-19. DNS wheat with 14 percent protein prices for new crop were down 1 and 3/4 cents ranging between 6-79 and 1/2 and 7-04 and 1/2.
August live cattle were down 12 and half on Wednesday at 147.22 and half. August Feeder cattle were up $1.02 and half at 215.32 and half. August class III milk was down 31 cents at 16-09.