Wheat Markets End Higher on Tuesday

I’m KayDee Gilkey with the Market Line Report for August 6, 2014.
Chicago Wheat Markets have been closed higher for the past five consecutive market days — something that hasn’t been seen since late April. From the floor of the CME Group, Joe Vaclavik shares his observations of Tuesday’s markets.
Vaclavik: “Grain markets here in Chicago were mixed on Tuesday. Corn market lower, soybeans lower and wheat a little bit higher. We’ll start with corn market which has stagnated in recent sessions trading fairly tight range. The wheat market higher on Tuesday. Some rumors or talk regarding quality of wheat in the Black Sea Region that some export business may be shifted to the U.S.. That may be some of the reasoning there, but its been a long way down in the wheat and it is seeing a bit of a recovery.”
Chicago September Wheat ended Tuesday up 8 and 1/2 cents at 5-52 and 1/2. September corn ended the day down 2 and 1/2 cents at 3-56 and 1/4.
Portland prices for soft white wheat were up 3 and 1/2 to 6 and 1/2 cents at mostly 6-98 and 1/2. White club wheat prices were up a penny to 8 and 1/2 cents at mostly 7-75. Hard Red Winter wheat with 11.5 percent protein prices were up 4 and 1/4 cents at mostly 7-47 and 3/4. DNS wheat with 14 percent protein prices were up 5 and 3/4 cents at mostly 8-16 and 1/4.
October live cattle were down 57 and half cents on Tuesday at 155-65. September Feeder cattle were up a nickel at 220-72 and half. September class III milk was down 45 cents at 21-49.