USDA Crop Report Negative for Wheat

I'm KayDee Gilkey with the Market Line Report for December 11, 2013.

March Chicago wheat fell to new contract lows Tuesday, even before USDA

increased its world ending stocks estimate from 178.5 million to 182.8 million

metric tons, more than expected. From the floor of the CME Group, Joe Vaclavik shares

Vaclavik: "Grain markets here in Chicago were mixed to lower on Tuesday. The key feature would have been the USDA Crop Production and WASDE Report. The wheat numbers came in and they were bearish. The market was down all day today pretty poor close there but a little off the lows. The wheat market really doesn't have a lot going for it now. Some of the world numbers were a little bit friendly relative to expectations but all in all it looks like the trade is waiting on the January report to come around for than anything. Not much interested in trading this December report today."

Chicago March Wheat ended Tuesday down 11 and 3/4 cents at 6-38 and 3/4. March corn ended the day down 2 cents at 4-36.??Portland prices for soft white white were down11 and 3/4 cents at mostly 7-03 and 3/4. White club wheat prices were down 11 and 3/4 cents at mostly 7-28 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 11 and 3/4 cents at mostly 7-81 and 1/4. DNS wheat with 14 percent protein prices were down 3 and 3/4 to 6 and 3/4 cents at mostly 8-10.

?February live cattle were down 40 cents Tuesday at 132-65. January Feeder cattle were up 40 cents at 165-55. January class III milk was down 8 cents at 18-61.