Wheat Markets End Wednesday Slightly Higher

I’m KayDee Gilkey with the Market Line Report for October 2, 2014.
Most wheat markets ended the day slightly higher. From the floor of the CME Group, Todd Horwitz shares his observations of Wednesday’s markets.
Horwitz: “Wednesday’s grains a little bit higher but certainly not a good bounce off the levels of we’re trading at. As we’ve been saying for the last several weeks, we’re not sellers down here. We’re looking for these markets to level off. Right now every little rally is met with tremendous selling pressure. We continue to make new contract lows almost on a daily basis. Wednesday’s livestock can you say new contract highs? Can you say up the limit, again? My goodness. Live and feeder cattle continue to strut their stuff and move and move and move.”
Chicago December Wheat ended Wednesday up 1 and 1/4 cents at 4-79. December corn ended the day up a 1/2 of a cent at 3-21 and 1/4.
Portland prices for soft white wheat were steady to up 1 and 1/4 cents at mostly 6-56 and 1/4. White club wheat prices were had no price comparisons and were at mostly 8-87 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were mixed down a 1/2 of a cent to up 4 and 1/2 cents at mostly 7-07 and 1/2. DNS wheat with 14 percent protein prices were down 1 and 3/4 cents at mostly 8-30 and 3/4.
October live cattle were up $2.02 and half on Wednesday at 162-47 and half. October Feeder cattle were limit up $3 at 238-42 and half. October class III milk was down 8 cents at 23-98.