Ugly Day In Grains

This is Matt Rice with the Market Line Report for March 2nd. New contract lows in Wheat after yesterday's grain market came to a close. Todd Horwitz explains his thoughts from the floor of the CME, in Chicago.

Horwitz "Ugly would be a word, I don't think I could think of a worse adjective, but if I could I would give it to you. Pretty lousy trade, volume is pathetic, wheat making a new contract low. Soy beans, and corn obviously trying to shoot that way, $3.48 in corn, $8.52 in beans. Again, it's so quiet that it's hard to get excited and it's hard to want to be involved. I think the best place is, if you are a farmer or producer you have to be involved, that's your business. I'm not a seller here obviously."

Chicago March Wheat ended the day dn 6 ½, at 438 ½. March corn ended the day up ¼, at 353 ½. Portland prices for soft white wheat of 10 ½ % protein for March were dn 6 ½- 47, ranging from 5-33 ½ to 5-45. Hard Red Winter wheat with 11 ½ % protein, prices for March were dn ½- 4 ½, ranging from 5-29 ½ to 5-35 ½. DNS wheat with 14 % protein, prices for March were dn 16 ¾-6 ¾, ranging from 5-85 ¼ to 6-00 ¼. April Live Cattle closed the day up 12 ½ cents, at 137.15. March Feeder cattle were dn 10 cents, at 158.60. March class III milk was dn 17 cents, at 13-57.