Wheat Quietly Lower

December wheat closed 2 1/4 cents lower on the session Monday and near the lows of the day. Weakness in corn helped to pressure the market as the move above Friday's highs failed to attract new buying interest. From the floor of the CME Group, Joe Vaclavik shares his observations of Monday's markets.

Vaclavik: "Grains here in Chicago were mixed on Monday -- with the corn market sharply lower, soybeans a little bit higher and wheat lower. We will start off with the corn where we had a new multi-year low close in the December corn contract. Just a lot of bearish news here last few days. The wheat market is soft again today, its been a slow grind lower. Not a whole lot of news out there fundamentally."

Chicago December Wheat ended Monday down 2 and 1/4 cents at 6-42 and 1/4. December corn ended the day down a dime at 4-12.??Portland prices for soft white white were down 2 and 1/4 cents at mostly 7-01 and 1/4. White club wheat prices were down 2 and 1/4 cents at mostly 7-26 and 1/4. Bids for Hard Red Winter wheat with 11.5 percent protein were not available for November delivery. DNS wheat with 14 percent protein prices were mixed down 1 and 1/2 to up 3 and 1/2 cents at mostly 8-23 and 1/4.

?December live cattle were down $1.50 Monday at 131-90. January Feeder cattle were down $1.52 and half at 164-30. December class III milk down 9 cents at 17-89.