Wheat Market Higher

I'm KayDee Gilkey with the Market Line Report for September 26, 2013.

More talk of high prices in China with prices up 9% since the June harvest and futures in China jumping to contract highs helped to spark talk of possible more import demand from China. From the floor of the CME Group, Scott Shellady shares his observations of Wednesday's markets.

Shellady: "Looks like Wednesday turned out to be a mixed bag here in Chicago for the grain floor and grain boards. We came in over night with a better market with the fact that those rains weren't as help as some folks may have thought and also we saw the wheat market take the lead -- that hasn't happen in a while. Wheat as high as 15 or 16 on the day at one point to settle a little bit lower."

Chicago December Wheat ended Wednesday up 12 and 1/4 cents at 6-70 and 1/2. December corn ended the day up 6 cents at 4-54 and 3/4.??Portland prices for soft white wheat were steady to up 7 and 1/4 cents at mostly 7-07. White club wheat prices were up a half of a cent to 2 and 1/4 cents at mostly 7.43 and 3/4. There were no bids for nearby delivery for Hard Red Winter Wheat with 11.5 pct protein. DNS wheat with 14 pct protein prices was up 13 and 1/4 cents at mostly 8-23 and 1/4.

?October live cattle were up 22 and half cents Wednesday at 127-55. October Feeder cattle were down 85 cents at 162-92 and half. October class III milk was down 12 cents at 17-92.