Wheat Markets Rally on Monday

I’m KayDee Gilkey with the Market Line Report for June 2, 2015.
Wheat Markets higher across the board and corn followed wheat higher on the day. From the floor of the CME Group Jack Scoville shares his observations of Monday’s markets.
Scoville: “A mixed tone in the grain markets here with the wheat market strongly higher and actually the canola also trading higher as well for the same reasons — cold weather in the Canadian prairies produced some frost and at minimum perhaps freezing temperatures. They have some replanting that needs to be done in both the spring wheat and also into the canola crops up there especially in Western Manitoba. Also some colder temperatures in the Northern Plains — especially in the Dakotas and perhaps in through parts of Montana — could create some replanting needs as well.”
Chicago July Wheat ended Monday up 16 and 3/4 cents at 4-93 and 3/4. July corn ended the day up 3/4 of a cent at 3-52 and 1/4.
Portland prices for soft white wheat of ordinary protein were mixed down a nickel to up 16 and 1/2 cents for August delivery of new crop ranging between 5-80 and 6-08 and 3/4. White Club wheat of ordinary protein had no nearby price comparisons. June delivery of Hard Red Winter wheat with 11.5 percent protein prices were up 11 and 1/2 to 20 and 1/2 cents at mostly 6-12 and 1/4. June delivery of DNS wheat with 14 percent protein prices were up 17 and 1/4 cents at mostly 7-46.
August live cattle were up 90 cents on Monday at 152.17 and half. August Feeder cattle were up 60 cents at 223.82 and half. July class III milk was up 15 cents at 17-57.