Grains Lower Across the Board Thursday

I’m KayDee Gilkey with the Market Line Report for January 23, 2015.
Grains were lower across the board and cattle markets were mixed. From the floor of the CME Group, Joe Vaclavik shares his observations of Thursday’s markets.
Vaclavik: “The wheat market caught a little bit of a bid this week but all-in-all has been trending lower and demand for U.S. wheat has been really struggling. Exports I think are running 25 to 30 percent behind last year’s pace. The surge in the U.S. dollar has not help matters there. We really need to find some sort of demand base, although there is certainly some weather risk as we move further towards the springtime and as the crop comes closer to coming out of dormancy there is always the weather risk in fact we saw a big weather rally last year during that springtime period.”
Chicago March Wheat ended Thursday down 3 cents at 5-33 and 3/4. March corn ended the day down 4 and 1/4 cents at 3-83 and 3/4.
Portland prices for soft white wheat of ordinary protein were steady to down 3 cents at mostly 6-32 and 3/4. White club wheat of ordinary protein prices were down 3 to 20 cents at mostly 8-65 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices down 7 and 1/2 cents at mostly 6-59 and 3/4. DNS wheat with 14 percent protein prices were mixed down 5 and 1/2 to up 14 and 1/2 cents at mostly 8-30 and 1/2.
February live cattle were down 35 cents on Thursday at 153-35. March Feeder cattle were up $1.02 and half at 206-32 and half. February class III milk was up 18 cents at 14-76.