Wheat Up Slightly

I'm KayDee Gilkey with the Market Line Report for December 12, 2013.

March wheat managed to hold just above Tuesday's lows and grinded higher to close 2 cents higher on the day Wednesday. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday's markets.

Horwitz: "Wednesday's grain trade saw mostly higher across the board. I think that really the interesting one to take a look at corn closing at its absolute high. It was really a slow drift with the absence of any news, the absence of any real action, come here at the end of the year what we are really seeing here is a slow drift higher. Take note that corn has come right back to that $4.40 resistance level we're looking to sell. Corn is looksto be short here somewhere here in the $4.40 although we did close on the high today - it looks like a selling opportunity."

Chicago March Wheat ended Wednesday up 2 cents at 6-40 and 3/4. March corn ended the day up 3 and 1/4 cents at 4-39 and 1/4.??Portland prices for soft white white were up 2 cents at mostly 7-05 and 3/4. White club wheat prices were up 2 cents at mostly 7-30 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up a half of a cent at mostly 7-81 and 3/4. DNS wheat with 14 percent protein prices were up a half of a cent at mostly 8-10 and ha.

?February live cattle were up 15 cents Wednesday at 132-80. January Feeder cattle were up 12 and half cents at 165-67 and half. January class III milk was down 18 cents at 18-43.