Wheat Market Rebounds

December wheat closed just 4 1/2 cents higher on the day Thursday and 7 1/4 cents down from the highs. The collapse in the US dollar and strength in soybeans helped to support. A threatened rail strike in Canada was also seen as a potential positive force which could push more export demand to the US. From the floor of the CME Group, Larry Shover shares his observations of Thursday's markets.

Shover: "Thursday's grain trade we saw all grains end up in the green. Wheat spent the night last night up 3 to 6 cents. Closed today about up 5 cents on the day. Again the narrative remains in place for wheat that it has a mind of its own. The weak U.S. dollar really making wheat competitive across the globe. Also we have continued weather concerns in Argentina and in Australia. But again lack of export news or any government news keeping a lid on any big price movements today."

Chicago December Wheat ended Thursday up 4 and 1/2 cents at 6-86. December corn ended the day up 1/4 of a cent at 4-42 and 3/4.??Portland Daily Grain Reports have resumed but currently there are no price comparisons.

?December live cattle were down $1.47 and half Thursday at 131-77 and half. November Feeder cattle were down 82 and half cents at 166-90. November class III milk was up a penny at 18-29.