Wheat Ended Tuesday Lower and Corn Higher

Wheat Ended Tuesday Lower and Corn Higher

Wheat ended Tuesday lower and corn was higher. From the floor of the CME Group, Todd Horwitz shares
Horwitz: “Tuesday’s grains had pretty mixed prices but at the end of the day, the markets are really holding up remarkably well. Wheat has been exceptionally weak. We had news out of Russia that they are going to lift the tax and that will change the dynamic. The overall picture remains the same — we are want to be on the long side of this market because prices have been depressed into: high dollar, not a good economy, everything has been perfect there has been an overabundance of supply. But at the end we are going to find out and see that the markets are telling us they don’t want to go any lower.”
Chicago July Wheat ended Tuesday down 6 and 1/4 cents at 4-66 and 1/2. July corn ended the day up 1 and 1/2 cents at 3-62 and 3/4.
Portland prices for soft white wheat and white club wheat of ordinary protein were down 2 to 6 and 1/4 cents at mostly 5-87 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were down 7 and 1/2 cents to up a 1/2 of a cent at mostly 5-87 and 1/4. DNS wheat with 14 percent protein prices were down 2 and 3/4 cents at mostly 7-25 and 1/4.
June live cattle were up 72 and half cents on Tuesday at 151.45. August Feeder cattle were up 92 and half cents at 218.25. June class III milk was down 20 cents at 16-67.

 

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