Grains Down Again on Wednesday

I’m KayDee Gilkey with the Market Line Report for February 26, 2015.
All grains closed the day with a softer overall market undertone. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grain trade — a little lower prices across the board as traders continue to churn it out. I think the question of the day is ‘How do you survive in quicksand?’ I think the best answer is to do nothing. I think in these markets — though I’m still very positive of the overall markets — it is apparent that A) What is going on in the equity markets; what is going on with the interest rates; what is going on with the dollar is now trickling down and having an effect on our commodity space — our grain space. I think it is better to let these markets pick up some interest before we get too involved.”
Chicago May Wheat ended Wednesday down 6 and 1/2 cents at 4-97 and 1/4. May corn ended the day down 1 and 3/4 cents at 3-83 and 3/4.
Portland March prices for soft white wheat of ordinary protein were down 6 to 10 cents ranging between 6-37 and 3/4 and 6-60. White club wheat of ordinary protein had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were down 7 and 1/2 cents at mostly 6-26 and 1/4. DNS wheat with 14 percent protein prices were down 13 and 1/4 cents at mostly 8-42 and 3/4.
April live cattle were up $1.27 and half on Wednesday at 146-85. April Feeder cattle were up $1.22 and half at 195-85 and half. April class III milk was down 4 cents at 15-37.