Wheat Market Up a Little

Wheat futures all closed a little higher on the day Wednesday. From the floor of the CME Group, Charles Nedoss shares his observations of Wednesday's markets.

Nedoss: "Grain markets spent most of the session regaining overnight losses. On the demand front though for corn and wheat it is interesting that you have bids really back off here. That's more a function of being able to source both corn and wheat at more attractive levels with foreign origins rather than U.S.. So again that is a development worth watching. But again wheat right now you might see some of this market share go again abroad as our prices aren't as favorable as other place in the world to source wheat."

Chicago December Wheat ended Wednesday up 3 and 1/2 cents at 6-46 and 1/2. December corn ended the day up 2 and 1/4 cents at 4-56 and 1/4.??Portland prices for soft white wheat were mixed up 3 and 1/2 to down 6 and 1/2 cents at mostly 7-07 and 1/2. White club wheat prices were down 5 to 6 and 1/2 cents at mostly 7-15. Hard Red Winter Wheat with 11.5 pct protein prices were up 2 and 1/4 cents at mostly 8-09 and 1/2. DNS wheat with 14 pct protein did not issue bids for nearby delivery.

?October live cattle were up a dime Wednesday at 125-27 and half. October Feeder cattle were up 42 and half cents at 158-30. October class III milk was up 22 cents at 17-88.