Wheat Markets Rally on Friday

Wheat rallies on Friday but also reaches new lows earlier in the week. From the floor of the CME Group, Frank Lesh shares his observations of Friday's markets.

Lesh: "March corn up 3 cents and wheat was up 9 cents. I should say mixed on the week as of course on Friday -- the last day of the week we had March corn down 4 cents on the week and March wheat was down about 3 cents on the week. New contract lows corn, new contract lows wheat -- we're saying this just about every week. Not significant, not violent lows made in here but they just keep drifting on lowing."

Chicago March Wheat ended Friday up 8 and 3/4 cents at 6-05 and 3/4. March corn ended the day up 3 cents at 4-23 and 1/2.??Portland prices for soft white white were up 8 and 3/4 cents at mostly 6-97 and 1/2. White club wheat prices were up 8 and 3/4 cents at mostly 7-14. Hard Red Winter wheat with 11.5 percent protein prices were up 11 and 1/4 cents at mostly 7-60 and 1/2. DNS wheat with 14 percent protein prices were up 10 and 1/4 to 20 and 1/4 cents at mostly 7-99 and 1/2.

?February live cattle were up 67 and half cents Friday at 136-30. March Feeder cattle were up $1.10 at 168-10. February class III milk was up 56 cents at 19-68.