Wheat Rallies on Friday

I'm KayDee Gilkey with the Market Line Report for October 14, 2013. ?

December wheat closed higher on Friday. Renewed concerns over a smaller Argentina crop which could push more exports to Brazil from the US and Canada helped to support the buying. From the floor of the CME Group, Frank Lesh shares his observations of Friday's markets.

Lesh: "Friday's grain trade was mixed markets -- corn down five cents on Friday and corn was down about 10 cents for the week. Wheat bucked the down trend there was up 6 cents on Friday and up about 5 cents on the week. All wheat's gain came on Friday's trade. Again wheat maintaining the strength in here. We're seeing problems in Russia and Black Sea too wet and too cold. We are also hearing about Argentina wheat production too-dry problems. But we do have Canada, Australia and even India looking to enter the export market that may be what is holding some of the wheat prices back right now."

Chicago December Wheat ended Friday up 6 and 3/4 cents at 6-92 and 1/4. December corn ended the day down a nickel at 4-33 and 1/4.??Portland prices are unavailable until government services resume.

?December live cattle were up 30cents Friday at 132-47 and half. November Feeder cattle were up $1.35 at 169-27 and half. November class III milk was up 2 cents at 18-20.