All Wheat Futures Up on Thursday

After double digit losses on Wednesday, wheat bounced back higher on the day. From the floor of the CME Group, Larry Shover shares his observations of Thursday's markets.

Shover: "After suffering double digit losses yesterday, wheat snapped right back where it was. USDA sales came in much better than excepted providing a lift to the market and also reiterating any kind of worries of the U.S. being competitive in the world market. The weather worries that we had yesterday seemed to be abated — especially in the Southern Plains."

Chicago May Wheat ended Thursday up 13 and 3/4 cents at 7-10 and 1/2. May corn ended the day up 7 and 1/2 cents at 4-92.

Portland prices for soft white wheat were up a 1/2 of a cent to 23 and 1/4 cents at mostly 7-85 and 1/4. White club wheat prices were up a 1/2 of a cent to 23 and 1/4 cents at mostly 8-35 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were up 12 and 1/2 cents at mostly 9-11 and 3/4. DNS wheat with 14 percent protein prices were up 7 and 1/2 to 17 and 1/2 cents ranging between 9-24 and 1/4 to 9-54 and 1/4.

April live cattle were up 67 and half cents on Thursday at 146-47 and half. April Feeder cattle were up 87 and half cents at 179-50. April class III milk was up 52 cents at 24-03.