Grains On Schedule

This is Matt Rice with the Market Line Report for April 7th. Grains trending lower after yesterday's trade, but we are right on schedule with previous spring trends. Todd Horwitz explains more from the floor of the CME in Chicago.

Horwitz "Wednesday's grains we see moderate prices, a lot of pressure in wheat, a nice little rally in soy beans and fairly flat in corn. I don't think there's anything unusual about this, other than we saw beans break earlier and come back and start to rally. Corns been pending on either side unchanged, and wheat basically was hammered from the opening bell. I think this really fits what we've been watching, on a daily basis. If we look at corn its really just kind of stuck in this range."

Chicago May Wheat ended yesterday dn 11 at 463. May corn ended the day up 1 ½, at 358. Portland prices for soft white wheat of 10 ½ % protein for April were dn 4- 11, ranging from 5-38 to 5-43. Hard Red Winter wheat with 11 ½ % protein, prices for April were dn 1 ¾, ranging from 5-50 ½ to 5-53 ½. DNS wheat with 14 % protein, prices for April were dn 12 ¼, ranging from 6-19 ¾ to 6-24 ¾. April Live Cattle closed yesterday up $1.40, at 131.75. April Feeder cattle were up 55 cents, at 152.47 ½. April class III milk was dn 2 cents, at 13-76.