Wheat and Corn Close Higher on Wednesday

Wheat closed higher with a drier forecast predicted, Corn closed with fractional gains for May with 19 percent of the corn planted and good planting weather ahead. From the floor of the CME Group, Jack Scoville shares his observations of Wednesday’s markets.
Scoville: “Grain markets generally trading across the floor today with the leader being the soybean and meal market. Today corn and wheat were also higher. The dollar was sharply lower and I think that the a lot to support the markets here today. We did do some export business in the corn this morning — always good for a market that could really use a good shot of demand news. And it looks like overall the market is waiting to hear what the Feds had to say here today as well. It did get about 15 minutes of trade in but we will be reacting to that a lot more through the end of the week.”
Chicago July Wheat ended Wednesday up 7 and 1/4 cents at 4-83 and 1/2. July corn ended the day up 3 and 1/4 cents at 3-74 and 3/4.
Portland prices for soft white wheat of ordinary protein were mixed down a nickel to up 7 and 1/4 cents at mostly 5-94 and 1/2. White club wheat of ordinary protein prices were had no price comparisons. Hard Red Winter wheat with 11.5 percent protein prices were up 3 and 1/2 to 6 and 1/2 cents at mostly 6-02 and 3/4. DNS wheat with 14 percent protein prices were mixed down 18 and 1/4 to up 16 and 3/4 cents at mostly 7-50 and 1/4.
June live cattle were up 22 and half cents on Wednesday at 150.90. August Feeder cattle were up 82 and half cents at 214.70. June class III milk was down 6 cents at 16-34.