Wheat Up Sharply With Ukraine Tensions

Wheat ended Monday up sharply due to the tension in Ukraine. From the floor of the CME Group Larry Shover shares his observations of Monday's markets.

Shover: "Monday's grain trade was surrounded by the fact that tension in the Ukraine right now had the grain markets ripped to highs that we haven't seen in a while. Wheat up 24 ticks on the day — closing at around the high on the day given the tension we are seeing in the Crimean region. That aside there are some fundamental issues — not many people looking at it right now — but temperature definitely an issue right now in the plains and the upper mid-West."

Chicago May Wheat ended Monday up 29 and 1/4 cents at 6-31 and 1/2. May corn ended the day up 7 cents at 4-70 and 1/2.

Portland prices for soft white wheat were up 9 and 1/4 to 12 and 3/4 cents at mostly 7-30 and 1/2. White club wheat prices were up 2 and 3/4 to 12 and 3/4 cents at mostly 7-92 and 1/4. Hard Red Winter wheat with 11.5 percent protein prices were up 6 to 21 cents at mostly 8-54. DNS wheat with 14 percent protein prices were up 1 and 1/4 to 11 and 1/4 cents at 8-59 and 1/2.

April live cattle were down 85 cents Monday at 144-12 and half. April Feeder cattle were unchanged at 173.07 and half. April class III milk was down 59 cents at 20-26.