Relatively Quiet Tuesday for Grain Markets

I’m KayDee Gilkey with the Market Line Report for November 19, 2014.
It was a relatively quiet day in the grain markets on Tuesday. Wheat was down slightly. From the floor of the CME Group, Todd Horwitz shares his observations of Tuesday’s markets.
Horwitz: “Tuesday’s grain saw a bit of a sell off here. I think one of the things that we’ve been looking for is that we’ve felt that the grains had reach a little bit of a level of choppiness — certainly not a bearish sign but rather a natural progression of a nice rally off the bottom. We can also see that volume has dried up a little bit on the sell-offs. We see heavy volume to the up side and light volume to the downside. I think nothing has really changed in the big picture.”
Chicago December Wheat ended Tuesday down 2 and 3/4 cents at 5-49. December corn ended the day down 5 and 1/2 cents at 3-72.
Portland prices for soft white wheat were steady to down 7 and 1/4 cents at mostly 7-01 and 1/2. White club wheat prices were down 2 and 3/4 to 7 and 3/4 cents at mostly 9-47 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 9 cents at mostly 7-36 and 1/2. DNS wheat with 14 percent protein prices were down a nickel at mostly 9-42 and 1/2.
December live cattle were down 17 and half cents on Tuesday at 170-82 and half. January Feeder cattle were down 20 cents at 237-27 and half. December class III milk was down 2 cents at 18-35.