Wheat Up a Little

December Chicago wheat has closed higher in six of the past seven trading sessions and has accomplished this during a period of significant weakness in the other grains. From the floor of the CME Group, Alexandra Lively shares her observations of Tuesday's markets.

Lively: "We're still seeing grains under pressure today. Wheat has been able to rebound a little in terms of nearby months. There has been a lot of spillover pressure from corn and soybean markets after that very bearish quarterly stock report. Corn is at a three-year low right now. That Decs contract, some traders are saying could go down to $4 or even $3.50."

Chicago December Wheat ended Tuesday up 2 and 3/4 cents at 6-81 and 1/4. December corn ended the day down 2 and 1/2 cents at 4-39.??Since I rely on the USDA Agricultural Marketing Service to provide the Portland prices, I won't be able to report on those until those government services resume. On Monday the 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 7 and half cents Tuesday at 131-90. November Feeder cattle were up 85 cents at 166-05. November class III milk was up 13 cents at 17-93.