Lower Across the Grains Monday

I’m KayDee Gilkey with the Market Line Report for March 3, 2015.
Soybeans and wheat started out the month of March with double-digit loses while corn closed with modest losses. From the floor of the CME Group, Scott Shellady shares his observations of Monday’s markets.
Shellady: “Across the board we were lower today. Wheat off about 13 cents, corn off 5 and 1/4 and beans off 18. We really didn’t start very well and it melted from there. There has been some rumor that there would going to be some technical sellers in the corn market — I don’t think that was really the case as much as following the beans lower. But if you go back and look at a chart here for the past couple of months, we really haven’t gone anywhere. Now we’ve had interesting case to build a bullish case but at the same time look at a chart of the dollar — what the dollar has been getting. So that dollar strength has put pressure or at least negated any bullish stories we may have.”
Chicago May Wheat ended Monday down 13 cents at 5-even. May corn ended the day down 5 and 1/4 cents at 3-88.
Portland prices for soft white wheat of ordinary protein were steady to down 13 and 1/2 cents at mostly 6-50. White club wheat of ordinary protein had no price comparisons at mostly 8-90. Hard Red Winter wheat with 11.5 percent protein prices were down 8 and 3/4 cents at mostly 6-41 and 3/4. DNS wheat with 14 percent protein prices were mixed down 9 and 3/4 to up 40 and 1/4 cents at mostly 8-41 and 1/4.
April live cattle were up $1.75 on Monday at 153-45. April Feeder cattle were up $1.80 at 202-12 and half. April class III milk was down 22 cents at 15-65.