Lower Grain Prices End Tuesday

I’m KayDee Gilkey with the Market Line Report for April 8, 2015.
Grains all closed lower on Tuesday as the US dollar rebounded higher and USDA reported that 44 percent of the winter wheat crop is rated good to excellent. From the floor of the CME Group, Jack Scoville shares his observations of Tuesday’s markets.
Scoville: “Prices trading lower here today. Lead lower by wheat. Wheat crop conditions ratings were a little higher than the trade had expected last night. And that created some of the selling interest. Plus there are some forecasts for rains in the Great Plains — maybe not hitting the driest areas of the Oklahoma and Texas panhandle but just about everybody else likely to get some beneficial precipitation. On the other hand, forecast for a heck of a lot of rain here in the Mid-West.”
Chicago July Wheat ended Tuesday down 2 and 3/4 cents at 5-25. July corn ended the day down 2 cents at 3-91.
Portland prices for soft white wheat of ordinary protein were steady to down 1 and 3/4 cents at mostly 6-66. White club wheat of ordinary protein prices were steady to down 1 and 3/4 cents at mostly 8-86. Hard Red Winter wheat with 11.5 percent protein prices were down 6 and 3/4 cents at mostly 6-79 and 1/4. DNS wheat with 14 percent protein prices were down 6 and 1/4 cents at mostly 8-93 and 1/2.
June live cattle were up 57 and half cents on Tuesday at 152-32 and half. May Feeder cattle were down $1.92 and half at 214-95. May class III milk was up 24 cents at 15-89.