Wheat Up on the Day

December wheat closed 8 cents higher on the day Tuesday and managed to jump over Monday's highs with active late buying. A jump in corn prices and more talk that wheat futures are oversold helped to support the higher trade. The market was up less than 1 cent on the day into the mid-session but the selling from fund traders dried up and buyers were active late in the day. From the floor of the CME Group, Frank Lesh shares his observations of Tuesday's markets.

Lesh: "Today's grain trade was mixed markets in here. We had crop progress out in Monday's trade. Corn harvest at 91 percent and soybean harvest at 95 percent so we pretty much know where we stand at harvest."

Chicago December Wheat ended Tuesday up 8 cents at 6-50 and 1/4. December corn ended the day up 5 and 3/4 cents at 4-17 and 3/4.??Portland prices for soft white white were up 8 cents at mostly 7-09 and 1/4. White club wheat prices were up 8 cents at mostly 7-34 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 up 2 and 1/2 cents at mostly 8-25 and 3/4.

?December live cattle were down 95 cents Tuesday at 130-95. January Feeder cattle were down $1.90 at 162-40. December class III milk down 2 cents at 17-87.