Wheat Back Up

For the third week in a row wheat export sales have been good at 21.9 million bushels, 4.9 of which was white wheat. From the floor of the CME Group Larry Shover shares his observations of Thursday's markets.

Shover: "Wheat markets contract closed up about 7 cents on the day on brutal weather concerns however on the other side is a lot of snow cover so right now discpherig that weather. USDA came out on right about on the right side of expectations of 250,000 to 850,000. News coming from Japan is that they are going to be tendering about 286,000 metric tons of U.S. based milled wheat."

Chicago March Wheat ended Thursday up 8 and 1/2 cents at 5-95 and 1/2. March corn ended the day up a 1/2 of a cent at 4-40 and 1/2.

Portland prices for soft white wheat were up 7 and 3/4 to 8 and 1/2 cents at mostly 7-18 and 1/2. White club wheat prices were up 7 and 3/4 cents at mostly 7-71. Hard Red Winter wheat with 11.5 percent protein prices were up 12 and 3/4 to 27 and 3/4 cents at mostly 8-29 and 3/4. DNS wheat with 14 percent protein prices were up 6 and 1/4 to 16 and 1/4 cents at 8-52 and 1/2.

April live cattle were up $1.62 and half Thursday at 142-40. March Feeder cattle were up $2.22 and a half at 170.72 and half. March class III milk was up 23 cents at 21-04.