Wheat Closed Higher, Corn Had Slight Losses on Tuesday

I’m KayDee Gilkey with the Market Line Report for January 7, 2015.
Wheat closed higher with sub-zero temperatures in the Central U.S.  Corn closed with slight losses. Crude oil traded below $50 a barrel for the first time in five and half years. From the floor of the CME Group, Joe Vaclavik shares his observations of Tuesday’s markets.
Vaclavik: “Grain markets were mixed here in Chicago on Tuesday. We had a marginally lower trade in the corn market. A higher trade in the soybean market and a higher trade in the wheat market. It’s been kinda of a roller coaster the last few days. Friday’s session we saw some very heavy selling on lighter volume. It looked like we were going see another leg down in the soybean market and also in the corn market. We totally reversed that idea on Monday and were sharply higher on Monday and we saw some follow through buying here in the soybean and the wheat market on Tuesday.”
Chicago March Wheat ended Tuesday up 2 and 3/4 cents at 5-91 and 3/4. March corn ended the day down a penny at 4-05.?
Portland prices for soft white wheat of ordinary protein were up 4 and 3/4 to cents at mostly 6-74 and 3/4. White club wheat of ordinary protein prices were up 2 and 3/4 to 15 cents at mostly 9-42 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were up 6 and 1/2 cents at mostly 7-19 and 1/4. DNS wheat with 14 percent protein prices were up 4 cents at mostly 8-70 and 1/2.
February live cattle were down 20 cents on Tuesday at 166-02 and half. March Feeder cattle were down $2.50 at 220-87 and half. February class III milk was was down 29 cents at 14-70.