Grains and Cattle Markets Down on Thursday

I’m KayDee Gilkey with the Market Line Report for January 16, 2015.
Chicago and Kansas City Wheat exchanges were down slightly and Minneapolis was slightly higher. From the floor of the CME Group, Alexandra Lively shares her observations of Thursday’s markets.
Lively: “Some traders were noting some unwinding of energy versus grain spreads this morning. Grain markets traded mostly lower after gains overnight. Farm export sales for corn and soybean failed to keep soybeans in the green very long but corn was able to see some slight support. The world bank announced earlier this week that they lowered their growth estimate predicting that the global economy will expand only 3 percent. However, they did state that the only bright spot for global growth was the U.S. economy. Traders continue to watch for the consequences on demand when other countries move further into economic turmoil.”
Chicago March Wheat ended Thursday down a nickel at 5-32 and 3/4. March corn ended the day down a penny at 3-80.
Portland prices for soft white wheat of ordinary protein were mixed down 25 cents to up 5 cents at mostly 6-35 and 3/4. White club wheat of ordinary protein prices were mixed down 25 cents to up 5 cents at mostly 9-02 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were mixed down 2 to up 18 cents at mostly 6-68. DNS wheat with 14 percent protein prices were up a half of a cent at mostly 8-26.
February live cattle were down $1.55 on Thursday at 154-20. March Feeder cattle were down $4.50 at 205-60. February class III milk was up 12 cents at 14-48.