Quiet Session Sees Wheat Fall Lower

Monday's quiet session saw March Chicago wheat post another low with favorable U.S. winter wheat conditions adding to December's series of losses. From the floor of the CME Group, Greg Wagner shares his observations of Monday's markets.

Wagner: "The trade is really focused right now on the weather what's going on in Argentina. You've got hot temperatures, dryness -- we've been talking about this for a while it is ongoing. It looks like they are going to get some precipitation starting Sunday into next week. Tuesday is a truncated trade and will close at noon and will not reopen until 8:30 on Thursday."

Chicago March Wheat ended Monday down 4 cents at 6-09 and 1/2. March corn ended the day up a penny at 4-34 and 1/4.??Portland prices for soft white white were down 4 cents at mostly 6-82. White club wheat prices were down 4 cents at mostly 7-07. Hard Red Winter wheat with 11.5 percent protein prices were down 8 and 3/4 cents at mostly 7-44 and 1/2. DNS wheat with 14 percent protein prices were down 6 and 1/2 cents at mostly 8-06.

?February live cattle were up a nickel Monday at 133-95. January Feeder cattle were down 30 cents at 166-67 and half. January class III milk was down 4 cents at 19-59.