Wheat Down After Somewhat Disappointing Export Sales

Export sales were indeed large for corn and soybeans however wheat was a bit disappointing with only 48.1 million bushels sold over the last three weeks. From the floor of the CME Group, Frank Lesh shares his observations of Thursday's markets.

Lesh: "Since Thursday was the last trading day of the month, we will look at where stand for the month. December corn was down 14 cents for the month of October. December wheat was down about 11 cents on the month. USDA blackout has ended on data and they are catching up on things. We had three weeks of export data released Thursday morning -- really good for corn and about average for the wheat."

Chicago December Wheat ended Thursday down 7 and 1/2 cents 6-67 and 1/2. December corn ended the day down 2 cents at 4-28 and 1/4.??Portland prices for soft white white were down 2 and 1/2 to 7 and 1/2 cents at mostly 7-11 and 1/2. White club wheat prices had no price comparisons but were at mostly 7-31 and 1/2. Bids for Hard Red Winter wheat were not available for November delivery DNS wheat with 14 percent protein had no price comparison for November delivery but was at mostly 8-44 and 1/4.

?December live cattle were down 40 cents Thursday at 132-72 and half. January Feeder cattle were down $1.12 and half at 163-67 and a half. December class III milk was up 19 cents at 18-33.