Wheat Market Higher

Wheat markets were higher on weather concerns. From the floor of the CME Group, Larry Shover shares his observations of Thursday's markets.

Shover: "Thursday's grain trade ended up being fairly slow. We are seeing green across the board but not a whole lot going on. Wheat was big mover on the day. Open up and closed up 8 and 1/2 cents on the day -- clearly on weather concerns -- extremely cold weather here on the northern plains and Mid-West. News that Iraq bought 50,000 tons here in the U.S. that's pretty big news -- but not substantiated yet. Russia very very cold however but some traders are discounting that thinking that snow cover is enough in the wheat growing region to not damage the crops."

Chicago March Wheat ended Thursday up 8 and 3/4 cents at 5-70. March corn ended the day up 2 and 3/4 cents at 4-29.??Portland prices for soft white white were up 8 and 3/4 cents at mostly 6-83 and 1/4. White club wheat prices were up 8 and 3/4 cents at mostly 7-16 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up 7 and 1/2 to 17 and 1/2 cents at mostly 7-69 and 3/4. DNS wheat with 14 percent protein prices were up 1/2 of a cent at mostly 8-77 and 1/4.

?February live cattle were up 25 cents Thursday at 143-92 and half. March Feeder cattle were down 50 cents at 179-87 and half. February class III milk was up 28 cents at 22-35.