Wheat Ended Day Lower

Wheat Ended Day Lower

I'm KayDee Gilkey with the Market Line Report for Thursday, June 22nd. From the floor of the CME Group here is Virginia McGathey

McGathey: "Today in wheat it was a little bit lower today. There has been some profit taking along the way after this big rally that we've had but the trend still remains positive. September futures is a little bit overextended is overbought. Profit taking was going to be coming in and the market was showing that today was the day to take that in. It was relative quiet but it drifted lower all day and then really got to its bottom really towards the end of the day and ended down about 8 cents. Corn ended mixed."

Chicago July Wheat prices closed Wednesday down 8 cents at 4-64 and 1/2. July corn ended the day down 1 and 1/4 cents at 3-68 and 3/4.

Portland prices for soft white wheat of ordinary protein ended the day steady to down 8 cents ranging from 4-85 to 5-09 and 1/2. Hard Red Winter wheat with 11.5% protein prices were down 6 and 1/2 cents ranging from 5-42 and 3/4 to 5-62 and 3/4. June DNS wheat with 14 % protein prices were down 7 and 1/2 cents ranging from 7-48 and 3/4 to 7-63 and 3/4.

August live cattle were down 55 cents on Wednesday at 115-35. August feeder cattle were up 72 and half cents at 144-65. August class III milk was down 4 cents at 16-69.

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