Wheat Being A Leader

Wheat Being A Leader

Kelly Allen
Kelly Allen
I'm Tom Allen with the Market Line Report for Tuesday, October 27th. Wheat is being a leader trading over corn. Jack Scoville brings you the news from the floor of the CME.

Scoville- Corn market and wheat market are both trading significantly higher here with wheat leading the way. Wheat is the outside leader and seems to be a weather market I have not heard much way of demand news, but we did see the big rains in Texas, missed the Texas panhandle and good chunks of Oklahoma and Kansas those areas do need some rain for best planting and crop establishment. Might get rains later on this week.

Chicago December Wheat ended up 18 and 1/4 at 510 1/2. December corn ended up 4 3/4 384 ¾. Portland prices for soft white wheat of ordinary protein for December, were up 18.50-unch, at 5.5900 . Hard Red Winter wheat with 11½ % protein was up 16.75, ranging from 5.9725-6.1225. DNS wheat with 14 % protein, prices for December were up 22.50-12.50, ranging from 6.3550-6.7050. October live cattle were down $2.22 and 1/2, at 138.80. October Feeder cattle were down $1.32 and ½, at 193.72. October class III milk was down $.03 cents at 15-46.

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