Wheat Prices Higher on Monday

I’m KayDee Gilkey with the Market Line Report for November 4, 2014.
Wheat ended Monday higher while the other grains ended the day down. From the floor of the CME Group, Robert Chesler shares his observations of Monday’s markets.
Chesler: “Quite exciting day in the grain markets here today. The wheat market in Chicago was a bit higher. You kind of question why because competitively from a world pricing perspective, we are any where from $30 to $40ish per ton above the freight on board price asking from the rest of the world. So we aren’t really competitive but we saw a little bit of a bounce there today. Really one of the main themes of the day was soybean meal continuing to tank. We’ve pretty much given back all the gains from last week and little bit from before that.”
Chicago December Wheat ended Monday up 5 and 3/4 cents at 5-38 and 1/4. December corn ended the day down 3 and 1/4 cents at 3-73 and 1/2.
Portland prices for soft white wheat were up 5 and 1/2 to 5 and 3/4 cents at mostly 6-90 and 3/4. White club wheat prices were up 5 and 3/4 cents at mostly 9-37. Hard Red Winter wheat with 11.5 percent protein prices were up 3 and 3/4 cents at mostly 7-50 and 1/2. DNS wheat with 14 percent protein prices were up 2 and 3/4 cents at mostly 9-22.
December live cattle were up $1.00 on Monday at 167-05. January Feeder cattle were up $1.32 and half at 229-80. December class III milk was down a nickel at 18-94.