Wheat Continues on its Downward Path

Wheat Continues on its Downward Path

I’m KayDee Gilkey with the Market Line Report for September 11, 2014.
Yet another down day in the wheat markets. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grain trade — pretty mixed, pretty quiet — not a lot to do as we see the grains are at contract lows. Soybeans and corns had a little bit of a bounce a couple of pennies but wheat was under a little bit of pressure. But the overall picture is bleak for the bulls right here as the grains continue to get hammered at every opportunity. We are circulated around the contract lows in these products. At the end of the day, very soft and quiet markets.
Chicago December Wheat ended Wednesday down 7 and 3/4 cents at 5-19 and 3/4. December corn ended the day up 1 and 1/2 cents at 3-45 and 3/4.
Portland prices for soft white wheat were steady to down 2 and 3/4 cents at mostly 6-82 and 1/4. White club wheat prices were steady to up 2 and 1/4 cents at mostly 9-07 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were mixed down 7 and 1/2 to up 2 and 1/2 cents at mostly 7-35 and 1/2. DNS wheat with 14 percent protein prices were down 6 and 1/2 to 16 and 1/2 cents at mostly 8-80 and 3/4.October live cattle were up 2 and half cents on Wednesday at 159-70. October Feeder cattle were down 62 and half cents at 227-12 and half. October class III milk was down 75 cents at 22-82.

 

Previous ReportWheat Markets Follow Other Grains Downward
Next ReportWheat Lower Following Release of Bearish USDA Report