Wheat Prices Steady on Wednesday

The soybean market had a big rebound on Wednesday while corn and wheat were steady. From the floor of the CME Group, here's Virginia McGathey

McGathey: "We do have participation certainly in the corn and the wheat. They were steady today and they are definitely hanging on to all their gains that they have had since the USDA report. Corn especially up about 2 and 3/4s and wheat was down about a penny but still looking very strong. The real test will be coming up in several weeks. Wheat and corn were sitting on their lows and they have come off those very comfortably right now. The market had a lot more trade today. We expect there will be volatility in the future but today we did very well."

Chicago May wheat prices closed the day steady at 4-33 and a 1/4. Chicago May Corn prices were up 2 and 1/2 cents at 3-69. Portland prices for Soft White Winter Wheat of ordinary protein were unchanged, ranging from 4-53 and 1/4 to 4-80. Hard Red Winter Wheat with 11.5 % protein, were up a 1/4 of a cent, ranging from 5-10 to 5-20. DNS Wheat with 14 % protein, were up a penny, ranging from 6-23 3/4 to 6-63 3/4.

June Live Cattle finished Wednesday up 65 cents, at 114-35. May Feeder cattle were up 50 cents, at $137.82 and half. May class III milk was up 26 cents at 15-49.