Wheat Markets End Mixed

The USDA stocks report for wheat was considered bullish against trader estimates and the market saw an initial burst of buying after the release but weakness in the other grains pulled down wheat to lower on the day Monday shortly after the release. From the floor of the CME Group, Joe Vaclavik shares his observations of Monday's markets.

Vaclavik: "Grain markets here in Chicago were mostly lower on Monday. Corn market sharply lower. Soybean market were sharply lower. And some wheat contracts were mixed to actually higher on the day. The key feature of today's trade was the quarterly grain stocks report -- essentially the USDA found a lot more corn, a lot more soybeans a a little bit less wheat than the trade had been expecting."

Chicago December Wheat ended Monday down 4 and 1/2 cents at 6-78 and 1/2. December corn ended the day down 12 and 1/2 cents at 4-41 and 1/2.??Portland prices for soft white wheat were steady to down 4 and 1/2 cents at mostly 7-14. White club wheat prices were steady to down 4 and 1/2 cents at mostly 7-50 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 were down 2 and 3/4 cents at mostly 8-28 and 3/4.

?December live cattle were down a dime Monday at 131-97 and half. November Feeder cattle were up 27 and half cents at 165-20. November class III milk was up 4 cents at 17-80.