Wheat Market Attempts Rally

Wheat Market Attempts Rally

I'm KayDee Gilkey with the Market Line Report for October 30, 2013.

Tuesday's wheat trading session was choppy and had two-sided trading. From the floor of the CME Group, Virginia McGathey shares her observations of Tuesday's markets.

McGathey: "Today in the grain market was a little bit of a mixed bag. Wheat tried to rally a little bit but came back off the highs -- going down and closing at 6-81 and a half. Right now the market got up to $7-10 just a couple of days ago and it hasn't been able to hold that up. While the market still tries to kept pushed lower, the strength in the market is still in the Kansas City hard red wheat so as long as the basis for that and the market for that stays strong that is going to keep the market from breaking from this point on."

Chicago December Wheat ended Monday up a 1/4 of a cent at 6-81 and 1/4. December corn ended the day up 1 and 1/4 cents at 4-32.??Portland prices for soft white white were up a 1/4 of a cent at mostly 7-17 and 3/4. White club wheat prices were up a 1/4 of a cent at mostly 7-62 and 3/4. Bids for Hard Red Winter and DNS wheat were not available for October or November delivery as most exporters were not issuing bids for nearby delivery.

?December live cattle were up 47 and half cents Monday at 134-27 and half. November Feeder cattle were down 32 and half cents at 166-75. November class III milk was down 11 cents at 18-63.

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