Wheat Moves Higher on Global Wheat Concerns

December wheat closed moderately higher on the session Monday. Concerns for next year's production in Russia and the Ukraine continued providing speculative buying support and helped to drive the market higher. From the floor of the CME Group, Greg Wagner shares his observations of Monday's markets.

Wagner: "Monday we start the week off with strength in corn and strength in wheat. Again wheat today closed in Chicago over $6.95 and some change approaching the $7 level. That's the highest level since July 11th. Corn posts good gains as well. Due to government shuts trade is operating without the regular, reliable stream of information that is needed to properly assess what is going on in the market. That can include crop progress reports -- that is one of the main concerns obviously from the demand end of it -- we're looking out export and export sales -- while unless something changes won't come out on Thursday. Today, USDA announced that the WASDE and crop production reports -- that were well anticipated -- which were due out on Oct. 11 will not be released."

Chicago December Wheat ended Monday up 7 and 3/4 cents at 6-94 and 3/4. December corn ended the day up 6 cents at 4-49 and 1/4.??Portland prices are unavailable until government services resume.

?December live cattle were down 12 and half cents Monday at 132-30. November Feeder cattle were down 47 and half cents at 165-47 and half. November class III milk was down 22 cents at 17-76.