Wheat Slightly Higher

December wheat closed slightly higher on the day but down nearly 10 cents from the mid-session peak as late selling emerged to pressure. Traders believe US wheat demand is also strong and that the market is still seeing some speculative short-covering. From the floor of the CME Group, Larry Shover shares his observations of Thursday's markets.

Shover: "Thursday's grain trade we did see some follow through given the green lights we saw in grains yesterday. USDA's numbers did not come out to day with government partial shutdown so we didn't get export sales numbers. Wheat being up 5 to 7 cents yesterday across the three exchanges, closes in the green up 3 cents. LIttle news to support although one thing that needs to be said is that there are continued concerns with late seedling plantings for winter wheat in Russia and the Ukraine. And the ongoing frost problems in Argentina. Beyond that global sales continue to be very brisk a lot of that due to the weaker U.S. dollar."

Chicago December Wheat ended Thursday up 3 and 1/4 cents at 6-89 and 1/4. December corn ended the day up a quarter of a cent at 4-39 and 1/4.??I won't be able to provide Portland prices until government services resume.

?December live cattle were down a nickel Thursday at 131-77 and half. November Feeder cattle were down 57 and half cents at 165-62 and half. November class III milk was up 4 cents at 17-90.